Quote:
Originally Posted by Boomer
You might want to check into doing direct rollovers from those accounts into IRAs — like Fredman and retiredguy123 said here.
I prefer IRAs to leaving the money in the 401(k) or 403(b) because IRAs give more direct control.
If you do this, be sure you do it absolutely perfectly so that you do not trigger any tax consequences.
Regarding your original question:
I am wondering if you decide to consolidate if you will be able to keep all of your current funds. Individual stocks would roll over directly. But I do not know if mutual funds titled specifically to the firm could roll over directly to a different firm. For example, could Fidelity Contrafund roll over to Vanguard as is? (I do not know the answer to that but it might be no. Maybe somebody here knows.)
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I don't think you can roll over funds or even stocks from a 401K to an IRA. You would need to cash them out and transfer the money. But, since it is tax deferred money, there would be no taxes as long as you did a direct transfer. Once the money is in your IRA. you can then purchase comparable investments within the IRA. If using Vanguard, they will be glad to help you to make the direct transfer. But, it is well worth the effort to get your money into an IRA where you have total control.