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Asked 5/31/2009
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If i no longer work at the job and i had a 401k plan do i take out and put in an ira are keep it there If i quit the job and i had 401k plan do i keep it there on rollover are invest in a retirement plan |
Answer 1/2 - Submitted 6/17/2009
Answer 2/2 - Submitted 6/17/2009
Depends, the former employer may make you move it at some point.. You would receive notice before that happens.... If your balance is over $5000 generally you can leave it there indefinately....If you have an IRA you can roll it into that.. It really depends on how it is doing where it is... An IRA may give more freedom in your investment options, but the fees may be higher... Check into both, (your 401(k) should have an advisor assiged to whom you can speak and ask advice... See which would be to your advantage.
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