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Retiremwnt

Is there a way to convert a 457b to an existing 401k as a rollover vs a distribution to

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Retiremwnt

Hello elath1169,

Thank you for joining us for the Ask the Experts Event. As to your question, yes, you can rollover a 457b into a 401k. In addition, this chart is very useful to help you see all the different plans a 457b can be rolled into. Your question about a 401k falls under the Qualified Plan column.

 

Having said that, you should understand that rolling a 457b into something else changes the character of that money in that you lose the ability to avoid early withdrawal penalties if you take the money out before age 59.5. In other words, not sure how old you are, but keeping it as a 457b you will not be penalized if you need to take the money out early. It will only be taxed as ordinary income.

 

I hope that helps.

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