This may be an option, depending on your former employer’s retirement plan; check with the plan administrator.
Assets can be rolled into an IRA at any financial institution, and can continue to be invested tax-deferred.
Need help choosing an appropriate IRA for you? Use this tool to find out what kind of IRAs you may be eligible for, and compare the pros and cons of each type.
This may be an option, depending on your new employer’s retirement plan; check with the plan administrator.
Depending on your age and account balance, taxes and penalties may deplete a large component of your savings.
Video: Understanding Rollover IRAs
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Withdrawals will be taxed at current rates. Early withdrawals prior to age 59 1/2 may be subject to a 10% penalty tax.
Be sure to consider the impact of fees and expenses in connection with the different options described above and consult with your personal tax advisor before making any decisions.
When making the decision to roll over a 401(k) account to an IRA, please consult your tax or legal advisor regarding any tax or other implications, and consider that investment choices and retirement payment options between the accounts will differ, and other costs and expenses may differ
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