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Re: [RT] 401K QUESTION: TRYING TO HELP A FRIEND



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Charles,
    Ben is correct. As a 401(k) is a Qualified Plan, the only way to fund the account is through salary deduction contributions (up to $14k this year), a rollover from another 401(k), an IRA conduit (an IRA funded from a prior 401(k) that was rolled over to the IRA).  As Ben further stated, non-qualified, private investment funds would not be permitted to be placed into a 401(k) by the sponsoring company. Only qualified money can be rolled over into another 401(k), with some restrictions on the type of qualified monies..
----- Original Message -----
Sent: Friday, June 24, 2005 7:08 PM
Subject: [RT] 401K QUESTION: TRYING TO HELP A FRIEND

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I think someone on the list probably knows the answer to this question.  I have a local friend who works for the USPS.
He also owns some Wal-Mart stock in a taxable personal account.  Can he transfer that stock and place it in his 401K?
Thanks for your feedback.
 
Chas


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