When I retired a couple of years ago and then wanted to draw a partial from my 401, I was told that since I was no longer an employee of the company, I would have to take it all or just leave it as is. So I withdrew the entire amount (not a whole lot since the company hadn't had a 401 in place for very long), and instead of doing a rollover, I just put it in a money market account. I'm glad now that I did it that way even tho I'm not earning a whole lot in interest, at least I'm not losing anything either! At my age, I don't have the time to hope for a recovery!!!