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Subject:
401K 403B and 529 financial plans
Category: Business and Money > Finance Asked by: kwd-ga List Price: $5.00 |
Posted:
21 Mar 2005 15:23 PST
Expires: 20 Apr 2005 16:23 PDT Question ID: 498280 |
Is it possible to "roll over" either a 401K or a 403B into a 529? Any general rules on withdrawing money from 401K or 403B plans. When do you have to withdraw monies, and when is the tax benefit greatest? Age 66: I'm in California; I want a 529 for a grandson in Colorado. |
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There is no answer at this time. |
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Subject:
Re: 401K 403B and 529 financial plans
From: armiaz-ga on 30 Mar 2005 21:31 PST |
Sorry KDW, no such luck with the rollover. Go to: http://www.savingforcollege.com/529_plans/ezines/guru.php?guru_id=11 A general rule is to enjoy the tax-deferred gains in your 401k as long as possible. However, you will need to start withdrawing from it by April 1st of the year following the year you turn 70.5. The government changed the Required Minimum Distribution table that allows you to withdraw less than before, but you still have to do it. When looking for a 529 plan, make sure you pay attention to the fees. That savingforcollege.com website is pretty good. I am sure your grandson (and son/daughter!) will thank you for whatever help you provide. |
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