Jump to content
Sign in to follow this  
Dennis2011

Can I Roll Over?

Recommended Posts

I am a utilities employee on a state retirement plan. I have already retired under the Florida DROP program and continue to work while retirement is placed in a tax deferred interest bearing account monthly. My 457(b) money is mostly in straight interest paying account with Hartford, through my employer. Can I roll it to my credit union in certificates of deposit as a traditional IRA. I already have an IRA in Vanguard that has been dropping like a rock and do not want to add any there and cannot remove it due to the losses on paper. Can I have a traditional IRA in two different locations?

I'm interested in protecting my 457(b), not in making a lot of money. I was fortunate enough to remove all of my money in the 457(b) from the stock market while it was still close to its peak, but now the insurance companies are in trouble also and FDIC is not looking good. Luckily credit unions are handled differently.

 

Thanks for any info.

Share this post


Link to post
Share on other sites

Have you made any progress? I'm in a similar situation. I'm retired and just want to protect my 457b. I was considering taking the tax hit and just spliting the funds into two seperate CDs so that they would hoefully still be FDIC protected on down the line. I'm just not sure.

 

fallenlimbs@yahoo.com

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

×
×
  • Create New...