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When you leave an employer you pass along all the important
files, turn in your office key, parking pass, ID badge and leave
your e-mail address behind. The one thing that you need to think
about long and hard before you leave it with your former
employer is your Retirement money: 401(k), profit sharing,
403(b), TSP, etc. Yet almost forty percent of departing
employees, ages 60 to 65 (and an even higher percentage of the
younger ages), leave their retirement money in their former
employers' plans.
You stay put because you may feel a sense of loyalty, are
unsure of how to transfer these moneys to another plan, are
fearful of assuming direct responsibility for the investments, or
simply are not aware that you can move all or some of the money.
You should know that not taking your retirement money when you
leave could jeopardize your future in retirement. In what follows,
we'll discuss the pros and cons of taking your money with you and
what you should do if you decide to move, or roll over, your
pension money.
Register below to read the eReport or watch the video presentation on Rolling over your retirement money: Good or Bad? .
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