[lotus76]

Hi,

I have question regarding my 401k. Two years ago I transferred permanently (for now) from the US to Germany. I still technically work for the same group but a different company i.e. was working for xxx Inc. USA now working for xxx GmbH which is a different entity with a different board of directors, signed a new contract and totally different pay and pension structure (in Euros). I can no longer contribute to my 401k and have now just received notification from xxx.inc that the company 401k plan will change and become much more restrictive. This is distressing since I spent the last 10 years loading it up with an additional 17% in personal contributions.

I am told by Fidelity and my company that there is nothing I can do but leave it there to waste away as I still work for xxx. Is there any way I can roll this to self managed IRA (without quitting my job).

Thanks for any help.

Mark

[ebaines]

Not sure what you mean by "leave it there to waste away" - it sounds like your 401(k) acount is alive and well, although no new contributions are being made. It should still be reinvesting dividends and interest earned, and appreciating in value (assuming the underlying investments appreciate). There may be some small advantage if you were allowed to roll it to an IRA - you could have more investment choices perhaps, and perhaps lower fees - but it's not catastrophic if you simply leave the 401(k) be.

Meanwhile, have you already set up a separate IRA so that you can start making contributions so as to continue saving for retirement?