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Liquidating your 401k

Please consult with your tax and legal advisors regarding your individual situation.

How long do I have to move the money from a 401k to my rollover IRA?

You choose how much pre-tax income you wish to contribute and that amount is automatically deducted from your paycheck and placed into your account within the 401k plan.

Your retirement savings can continue to grow tax-deferred until you make a withdrawal.

You do not pay taxes on your salary deferrals or earnings until you take a withdrawal from the plan.

Generally, if you take the distribution after age 59½ there is no tax penalty.

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