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Tax Law (Questions About Taxes)/employer paid retirement plan

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Question
My former employer had a retirement plan that automatically received employer contributions. I never, and couldn't, contribute to it. It was separate from the 401k plan. What exactly are those plans? Will I be taxed on the money if I roll that to a Roth IRA? I'm trying to understand if that money is taxable to me and when. Thanks.

Answer
taxed when you take it out or receive it.  you cannot (generally) roll it into a Roth -- but if you do, it would still be taxable upon the rollover/conversion and then grow tax free and distributed to you tax free in the future.  

ask employer when you can receive it. how old are you? how long separated? what is the amount in the plan.  you might be able to claim or receive the money early under certain circumstances.

what is your accrued benefit?  

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Tax and general business including hospitality related (hotel mgmt degree and experience in industry prior to obtaining ms tax and cpa).

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19 years cpa. ms tax. NOTE: My discussions are only a general information and do not constitute tax advise without entering into a specific agreement and executing an engagement letter; This free chat is nothing more than general information and should not be construed as tax advice nor does my response or replies imply an agreement to provide client specific advice or other guidance for purposes of avoiding IRS tax or penalties and should not be relied upon without your own validation and confirmation of the how the discussion may fit your facts... Not having all the facts and/or not having a direct client relationship prevents me from providing the most accurate replies as possible and I highly suggest using a local CPA to provide you with written advice and guidance. Taking matters into your own hands is much akin to trying to land an airplane without a license. It is easy to FLY a plane, but LANDING is when critical experience is key. In short, caveat emptor; do your homework and don't just rely on free chat board advice anywhere, anytime.

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