answersLogoWhite

0

I have the SAME question. $45k sitting in a traditional IRA earning 4% with CD's. I'm now with county govt. Want to get some money moved into the 457 plan (with ICMA) to earn possibly higher. Are there fees, expenses, penalties? Can it be done?

User Avatar

Wiki User

17y ago

What else can I help you with?

Related Questions

Can you roll a 457 into a roth IRA?

No, you can only roll a 457 into a traditional IRA As of January 1, 2008, you can roll over pre-tax 401(k), 401(a), 403(b), and 457 plans directly into a Roth IRA


Is a 457 IRA tha same asa roth IRA?

No, a 457 IRA is no the same as a Roth IRA. A 457 IRA is a type of retirement account that holds money pre-tax, so when the money is withdrawn in retirement, it is taxed as income at that time. A Roth IRA is funded with after tax dollars, and taxes are not assessed at the time of withdrawal.


Can you roll a pension into an IRA?

Yes, you can roll a pension into an IRA.


Can you roll your pension into an IRA?

Yes, you can roll your pension into an IRA.


Can a IRA be rollover to a 457 plan?

Yes, an IRA can be rolled over into a 457 plan, but it depends on the specific rules of the 457 plan. Not all 457 plans accept rollovers from IRAs. It's important to check with the plan administrator for the specific 457 plan to determine if this option is available and to understand any potential tax implications.


Can I roll over my 401k to an IRA?

Yes, you can roll over your 401k to an IRA.


Can you roll a Roth IRA into a 401k?

No, you cannot roll a Roth IRA into a 401k.


Can you roll over your 401k to an IRA?

Yes, you can roll over your 401k to an IRA.


Can you roll over a 401K into a Roth IRA?

Not directly but you can roll it over to a Traditional IRA first then convert that IRA to a Roth.


Can I roll my Roth IRA into a 401k?

No, you cannot roll your Roth IRA into a 401(k).


Can you convert a simple IRA to a roth IRA?

Yes, you can roll a regular IRA into a Roth IRA. You pay income tax on the amount you withdraw from the regular IRA, but do not have to pay a penalty for early withdrawal if you roll the money directly into the Roth IRA.


Is a 457 the same as an IRA account?

a 457 is like a 401k, but it is usually offerred by governments rather than businesses. an IRA is an Individual Retirement Account...with the emphasis on individual. Ira is not typically offered to employees by a business The withdrawal rules of a 457 are different from a 401k also...there's no 10% penalty for taking you money out before 59 1/2. Local and state government employers offer 457 plans to their employees but you have to be careful of costs. A lot of 457 plan providers charge a lot for their plans. These and similar questions about 457s are answered also at 457planinfo.com