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An employee quits her job where she has a balance of $10,000 in her qualified plan. if she decides to do a direct transfer from her plan to a traditional ira, how much will be transferred from one plan administrator to another and what is the tax consequence of a direct transfer?

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Kalahira
After an employee quits their job they can choose to keep their money in their qualified plan. If they choose to transfer the whole balance to a traditional IRA they have 30 days to do so with no tax penalty.

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