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  1. #1

    Default What to Do With a 401K After Changing Employers

    When I left an employer I still had money in my 401K account. The money is still sitting there, but fees are eating up the pension. I was not fully vested and it's a lower amount. My current employer does not have a 401K. Any suggestions on what I might do? IRA, CD or maybe something along those lines.

    Thanks

  2. #2
    Join Date
    Oct 2006
    Posts
    15,112

    Default Re: Pension

    Quote Quoting tcream
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    When I left an employer I still had money in my 401K account. The money is still sitting there, but fees are eating up the pension. I was not fully vested and it's a lower amount. My current employer does not have a 401K. Any suggestions on what I might do? IRA, CD or maybe something along those lines.

    Thanks
    Rolling it over into an IRA would be an appropriate way to handle the money.

  3. #3
    Join Date
    Sep 2010
    Posts
    18,826

    Default Re: Pension

    Quote Quoting llworking
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    Rolling it over into an IRA would be an appropriate way to handle the money.
    He can roll over any money HE put in, but he unvested amounts of employers contributions will have to stay (though if he isn't working there anymore, they never vest).

  4. #4
    Join Date
    Mar 2013
    Posts
    16,661

    Default Re: Pension

    Quote Quoting flyingron
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    they never vest).
    They do, if the company says they do.

    I had one where company contributions vested a percentage per year.

    Never say never.

  5. #5
    Join Date
    Sep 2010
    Posts
    18,826

    Default Re: Pension

    Yes, what I meant to say was the "MAY" never vest.

  6. #6

    Default Re: Pension

    Thanks for the reply. I'll look into the IRA.

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