Before you do, you probably want more information
on your options. You'll need to refresh your memory on your
current plan's features, and get some information about your
other options to make an educated decision.
Reasons to keep money in current plan
Reasons to choose a new employer plan
Reasons to choose a Rollover IRA
Reasons to choose a Rollover Annuity
No action required unless your balance is below a certain amount
May have lower fees
May have better investment options
Maybe be able to withdraw funds without penalties if you separate from
service from the same employer at age 55 or older (but income taxes
will still be due)
Consolidate funds
May have lower fees
May have best investment options
May allow loans
Choose almost any investments
Manage your own money
May have lower fees
May consult financial professional for information
specific to your situation
New employer's plan may have more restrictions
Choose income options, death benefit
May have lower fees
May have better investment options
"Did you take a loan on plan funds?"
Better take this into account. When you terminate employment, you may have to repay it on the spot or pay income taxes and penalties on the outstanding loan amount.
Are You Leaving Your Employer?
