Whether you're starting a new job or getting ready to retire, you'll have to make a decision about your 401(k). You might want to consider moving your money to your new employer's plan if the plan accepts transfers. You always have the right to move your assets to an individual retirement account (IRA) or withdraw the money as a lump sum. Or you may be able to leave the account where it is. Just make sure you know the benefits and penalties involved with each choice.
| 401(k) Tip When you move to a new job, consider the following...
- Should you keep your assets in the old 401(k) plan?
- Should you roll the assets into a new employer's plan if you have that option?
- Should you put the 401(k) assets in a rollover IRA?
- Should you take a lump-sum withdrawal?
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