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    Dbltrbl1976's Avatar
    Dbltrbl1976 Posts: 1, Reputation: 1
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    #1

    Dec 22, 2010, 03:28 PM
    Are any contributions mandatory for IRA's ?
    I am rolling over my 401k into an IRA, Maybe a Roth but I am wondering if I have to contribute money each month or does it use my original rollover amount each month?

    Thanks for your time,

    Sincerely,
    Michele
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Dec 22, 2010, 03:39 PM

    Contributions are not mandatory to an IRA. You can make additional contribiutions whenever you desire, up to the limit of $5K/year ($6K if you are 50 or older).

    I don't understand what you mean about an "original rollover amount each month" - please clarify. Remember that a roll-over is a one time event, where you transfer your 401(k) account assets into a new rollover IRA account. Once the assets are rolled over, the original 401(k) account is considered closed.
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