2008 IRA Contribution Limits & Rules

2008 IRA Rollover

You can combine several IRA accounts into one IRA account. This process is sometimes referred to as a rollover. You can not combine a Roth IRA and a traditional IRA account though. You can transfer a 401K account form a previous employer to an IRA account - this account is called a Rollover IRA. However, you can not rollover a 401K account from a current employer into an IRA.

You can rollover a Rollover IRA back into a current employer's 401k plan but you can not rollover a traditional IRA into your employer's 401k plan.

Combining several IRA accounts into one account can be a smart idea as you can avoid account fees that may be levied on each account such as IRA account maintenance fees or low balance fees that may be charged by some IRA providers.

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