New Mexico retirement account for US citizen moving to

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My_question_is: Applicable to both US and Canada
Subject:        retirement account
Expert:         [email protected]
Date:           Monday March 15, 2004
Time:           10:21 AM -0800
QUESTION:
hi-
I came across your site while searching on google.  I am New Mexico resident
and State employee who is about to move to Ottawa, Canada.  I have a
PERA(Public Employees Retirement Account) with the State of New Mexico.  I
would like to know if, and how I can transfer my retirement fund to a
Canadian account such as an RRSP.  My main goal is to avoid the 28.5% tax
that I would incur by simply withdrawing the money.
Thanks.
-RXXXXXXX
===========================================
david ingram replies:
Believe it or not, there is absolutely NO advantage - tax or otherwise - to your moving your money to a Canadian account.
Move it into a IRA and leave it in the states.  It will give you foreign content and keep a portion of your money in what is likely still the strongest economy in the world.
There is no reason to move it other than putting a commission into your advisor's pocket.
=======================================
To: [email protected] 
Sent: Tuesday, March 16, 2004 7:37 AM
Subject: RE: New Mexico retirement account for US citizen moving to Ottawa - from ask an income tax and immigration expert
thanks david- I didn't think I would actually get a response.  I am going to 
move it to an IRA and leave it in the U.S.
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