Investment Options for a Define Benefit Plan Currently in a Fixed Annuity
I have a Define Benefit Plan currently invested in a fixed annuity. I terminated the plan and I want to transfer the Define Benefit Plan to an IRA that will invest in stocks. Can the IRA hold stocks and funds or DOES IT HAVE TO HOW ANOTHER ANNUITY?
Permalink Submitted by Alan - IRA critic on Sun, 2020-04-26 19:25
You can do a direct rollover (no withholding) to an IRA at the custodian you wish and invest in anything the custodian supports. You do not have to continue an annuity, but any IRA could later be transferred into an IRA annuity if you wish.
Permalink Submitted by Keith James on Sun, 2020-04-26 20:44
Thank you, Alan