01-10-2013, 09:58 PM
AllGold wrote:
Some companies allow an "in-service" rollover, meaning you can do it even if you haven't left the job. But it's only some companies and those who do rarely advertise it.
Such cases still have to comply with IRS rules regarding permitted distributable events. For example, the law provides that plans can allow distributions at age 59-1/2 whether or not you've terminated employment. Distribution of 401(k) contributions is generally prohibited before that age, the major exception being "hardship" as that term is narrowly defined by the IRS. And hardship distributions cannot be rolled over.