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Decide on a Roth or a traditional IRA. If you roll into a Roth IRA, you'll owe taxes on the rolled amount. Open a rollover IRA account. Ask your 401k plan for a direct rollover. Make your investment choices.

When switching jobs, you may have the option of leaving your 401(k) account with your old employer, or you may be required to move it to another account. This may be based on your employer's policy or the amount that is currently in your 401(k). If you are required to move it, then you should roll it into an IRA. It is best if you roll it into the

Keep in mind that 401k rollovers into an IRA may lose their protection if commingled with a contributory IRA. No one ever plans on getting sued but at the same time, no one is immune so consider keeping retirement funds in a company plan rather than an IRA if all else is equal.

Since your 401k plan is one of your most important retirement savings vehicles, you want it to be as good as possible. Here are the features that we think make a really good 401k plan: Immediate eligibility. Valued daily and statements provided at least quarterly. Generous employer match provide in cash and not employer stock. Maximum contribution

A 401(k) plan is a qualified employer-established plan to which eligible employees may make salary deferral (salary reduction) contributions on a post-tax and/or pretax basis. Employers offering a 401(k) plan may make matching or non-elective contributions to the plan on behalf of eligible employees and may also add a profit-sharing feature to the

There is no legal limit on the number of 401k's you can have at one time, but you can only contribute new money to the plan at your current employer. Just because you can keep open 401k plans from previous employers doesn't mean it is the smart thing to do. In our opinion you should consolidate old 401k's into your current 401k or an IRA. This will