Grand Rapids Business Daily

Can I xfer money from 401k with present employer to a IRA while still contributing to 401k?

I am currently contributing to my 401k plan at my present job. I don't like the choices they give me and the brokerage plan charges $18 per trade and $100 a year maintenance fee. Can I continue to fund the 401k plan and transfer the moneys to a Roth IRA or similar plan at another brokerage?

Public Comments

1. According to www.401k.org, you cannot.
2. No, you cannot. What you should do is get a group of employees together to complain to your human resources department. Explain why you think the choices in the current plan are not adequate and suggest changes they should make. Good luck.