Can I xfer money from 401k with present employer to a IRA while still contributing to 401k?

Posted by Dolores
401help asked:


I am currently contributing to my 401k plan at my present job. I don’t like the choices they give me and the brokerage plan charges $18 per trade and $100 a year maintenance fee. Can I continue to fund the 401k plan and transfer the moneys to a Roth IRA or similar plan at another brokerage?

Caffeinated Content
Share and Enjoy:
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google

This entry was posted on Saturday, October 17th, 2009 at 3:23 am and is filed under Personal Finance. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

« When your 401K fund prices are down is it good to keep putting money in?
What is the procedure to use my 401k funds to pay for my college expenses ? »

2 Responses to “Can I xfer money from 401k with present employer to a IRA while still contributing to 401k?”

  1. newjerseyguy Says:
    October 18th, 2009 at 9:28 am

    Caffeinated Content

    According to, you cannot.

  2. The Professor Says:
    October 19th, 2009 at 12:49 am

    Website content

    No, you cannot.

    What you should do is get a group of employees together to complain to your human resources department. Explain why you think the choices in the current plan are not adequate and suggest changes they should make.

    Good luck.