Changes to your career, unless you stay with the same company or organization usually trigger retirement plan rollover questions. If you have changed employers, you will most likely have several options for taking a distribution from your retirement funds from your previous employer which may include a lump sum taxable distribution, a partial taxable distribution, a non-taxable rollover transfer to another qualified plan or you may be permitted to leave the funds invested in the plan.
Before you make a decision (which is usually irrevocable) contact us as soon as possible. Each employer's plan has different termination procedures and payout options that need to be carefully evaluated to determine the best course of action for you. Depending on your retirement plans, a rollover option may or may not be the best choice for you.
At your new employer, you will most likely have more decisions to make about beneficiary designations, 401(k) contribution rates and investment options which should also be carefully evaluated. Contact us as soon as possible so we can help you determine your best choices that will be consistent with your retirement plans.
We will assist you in making these decisions and also setup and execute rollover transfers (e.g. 401(k) rollover to a self directed IRA).
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