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Saving & Investing
AARP Bulletin, November 1, 2008
Q. I have a 401(k) retirement savings plan from a previous employer and a 403(b) from a current employer. I am in the process of changing jobs in the next six weeks. Can I roll both into a new 401(k) sponsored by my new employer?
A. Yes, you can roll both plans into your new 401(k) as long as each of the plans permits that. Check with your new employer, your current employer and the documents of the old 401(k) plan for guidance.
At one time, you could not have rolled over the 403(b), but that restriction has been dropped.
For more information on retirement account rollovers, see IRS Publication 575, “Pension and Annuity Income,” at www.irs.gov/pub/irs-pdf/p575.pdf.
Source: John Turner
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