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Generally, yes. Your employer’s plan document will dictate whether rollover contributions are allowed into the plan and whether you must satisfy the plan’s general eligibility requirements prior to being eligible to roll this money into the plan. Most plans allow rollover contributions. In this way you can consolidate your retirement accounts into one plan and receive one benefit statement reflecting this money. The rollover contribution also avoids current taxation otherwise levied on plan distributions because you are depositing this money into another tax-deferred vehicle.
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I just began employment with my employer and have money in my prior company’s 401(k) plan. Can I bring this money into my new employer’s 401(k) plan?
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