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Reply to "Roll law firm 401k into fed TSP?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][b]1. it doesn't matter if the law firm goes under. that money will not be affected by that.[/b] 2. you will not incur any tax penalties if you roll over your 401k balance into an IRA. 3. I may be wrong about this, but I don't think you can do a backdoor roth conversion if you roll the balance into an IRA. I think you would incur tax penalties because of the amount. (again, I could be wrong about this.)[/quote] #1 isn't true. Did you read about the Dewey bankruptcy at all? Read the second page here: http://abovethelaw.com/2012/07/what-dewey-do-with-thousands-of-boxes-of-client-files-and-bad-news-for-dl-401k-participants-em/2/ Maybe [b]you shouldn't open your mouth[/b] if you don't know what you're talking about.[/quote] I don't know for sure but my guess is he/she probably didn't open his/her mouth while he/she was typing. But I maybe wrong. Sorry... Slow afternoon. [/quote]
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