The company that I work for was recently acquired by a much larger company. One consequence of this is that my company decided to discontinue their 401k plan and move us all to the larger company's plan.
Part of the discontinuation of the original 401k plan is that the funds I had on it have been made available for distribution. I have been given the following options:
- I can request the vested balance to be sent to me (minus taxes and fees).
- I can request a direct rollover of the vested account balance to "another eligible retirement plan".
- I can request a direct rollover of the vested account balance to an IRA of my choice.
The question I wanted to ask is, are there any companies that function like online brokers (similar to E-Trade), allowing me to trade in stocks and options, but whose accounts are also considered eligible as retirement plan accounts?
(Most of the IRA accounts only seem to allow me to select categories of companies to invest in, or something like that. I would preferably like to invest the funds on my own, with the same kind of freedom as I would have with my own cash.)