My bank had rollover over my old 401k into a Qualified Variable Annuity over 10 years ago. Is there any way I can rollout money from this annuity into a Retail Mutual Fund IRA I have with Vanguard. I’m 56 years old and was trying to avoid the annuity high fee’s . tks
Terry Says: If you are past the “surrender” period, you can do a direct rollover of this “qualified” money (which means it was previously from a retirement type account). Contact Vanguard, ask for their “rollover services” and have the policy information handy. They will handle all the work for a direct rollover — and you should not touch the money at all, should not receive a check to avoid tax consequences.