These days, individuals switch employers more often than ever before. With that, 401(k) and other employer-sponsored retirement plan accounts are left behind at former employers. It’s not uncommon to hear of someone with 3 or 4 various 401(k) accounts, if they haven’t consolidated them into one. The paperwork can seem onerous, and plan participants don’t know where to turn for quality advice.
In order to make a sound decision on what to do with your old 401(k) account, you first need to understand what all of your options are. Included in the 401(k) Rollover Guide are all six of your options presented in no particular order. Each individual’s circumstances are different and you should not consider any of the material included as a recommendation of what you should do.
The six options covered in the guide are:
Transfer Funds To New Plan
Roth IRA Conversion
In-Plan Roth Conversion
Leave The Funds
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