Series 7 - General Securities Representative Exam
An 26 year old employee leaves a job at a company. He had a 401(k) plan there. Which of the following is NOT an option for the employee?
He can rollover the 401(k) to a Traditional IRAA
He can rollover the old 401(k) into a new 401(k) if the new plan allows itB
He can withdraw the funds and circumvent premature withdrawal penaltiesC
He can ask his registered rep to handle the transfer via ACAT to a Traditional IRAD
The 26 year old will face premature distribution penalties as well as income tax