When you leave a job or retire, you have a decision to make regarding your 401(k) money. While leaving those assets in the former employer's plan is an option, a rollover can be a consideration. Working with your tax advisor, we can help you determine the right course of action for you. This may include: leaving the funds in your existing plan, if permitted, or rolling them into your new employer's plan, if one is available and rollovers are permitted. Each choice offers advantages and disadvantages, depending on your specific needs and retirement plan, such as the desired investment options and services, applicable fees, expenses, and withdrawal options, as well as required minimum distributions and tax treatment of applicable options.
When considering rolling over the proceeds from your retirement plan to another tax-qualified vehicle, note that you have options, including leaving the funds in your existing plan, or rolling it over to a new employer’s plan. Depending on the option you select, there may be fees, expenses, and taxes upon withdrawal.