Understand Your Rollover Options

When you leave your job, and your previous 401(k), you have four options of what you can do with your balance.  The options are as follows: leave the money in your old plan, roll it into your new employer's plan, roll it into an IRA, or withdraw the balance.  Knowing which option to choose can be tough, so we have put together a little cheat sheet for you.

I'm Ready to Rollover

When you have decided it is time to roll over the balance, where ever the destination may be, the first step is always to contact your previous employer's HR department.  Should you choose to roll the balance into your new plan, the next step would be to contact your new employer's HR dept and find out the necessary steps, which are always accompanied with paperwork.  Should you be rolling your balance into a plan that we service, we can help with the paperwork and your transition.  If you want to roll your old balance into a new IRA we can also assist you through the process.