Hi guys,
Upcoming grad who has found these blogs and forums extremely helpful.
I was hoping for help with the following:
My wife and I are finishing our training at a state university and have some savings in a 401a. For a few reasons, the money that is in these accounts will be more valuable to us now than rolling them into a plan with our new employers. I'm trying to avoid the 10% penalty for withdrawal if at all possible.
My employer also offers a 457b and allows me to rollover my 401a contributions to the 457b. Am I wrong in thinking I can roll the money from the 401a into the 457b and then withdrawal that after we graduate in July and no longer work for the university without paying the 10% penalty?
Thanks for your help.
Upcoming grad who has found these blogs and forums extremely helpful.
I was hoping for help with the following:
My wife and I are finishing our training at a state university and have some savings in a 401a. For a few reasons, the money that is in these accounts will be more valuable to us now than rolling them into a plan with our new employers. I'm trying to avoid the 10% penalty for withdrawal if at all possible.
My employer also offers a 457b and allows me to rollover my 401a contributions to the 457b. Am I wrong in thinking I can roll the money from the 401a into the 457b and then withdrawal that after we graduate in July and no longer work for the university without paying the 10% penalty?
Thanks for your help.
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