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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
Group-
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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