Can I do an IRA rollover of my 401k account if I have already begun receiving distributions from my 401K?

I retired 17 months ago and have been drawing 5% per year of the value of my 401K, paid in 12 monthly installments. The 401k earned 3.5% last year and I want to roll over all of my 401k account into an IRA with an investment firm I already have mutual funds with. I've been trying to get a response from the 401k Plan Administrator, but haven't heard from him since I initiated the call 4 days ago. I've talked to a couple of Customer Service Rep's during my attempts to get this started and they've said that I probably can't do this (take my $$ from Prudential and move it to some other firm) because I've begun getting distributions.

Is this right? I'm locked into a plan that looked good for me 17 months ago, but isn't now?

You should be able to roll over a 401k into an IRA without a problem. Those Prudential people just don't want to lose your business. Your money guy at the new place should be able to take care of all this for you. And if he can't, find a new money guy.

(Unless you bought some sort of annuity with it. I can't tell if you did.)

believe on what you think (grammybuddi)

I thought the rule was that once you retire you had to roll over a 401k plan into an IRA. Maybe they did that on their own and didn't tell you. Anyways in your case, yes you can put it in your IRA. Talk to your former boss and complain. Maybe he will dump their service.

Here is their online site.
http://www.prudential.com/productsAndSer...

http://www.401krolloverguide.com/7mistak...