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All posts tagged cash distribution

Deciding what to do with your 401(k) balance when you leave a job does not have to be difficult. It is something that almost everyone will have to do at some point. The best approach is to look at the various options, understand the differences, and figure out how your decision will impact your ability to save for retirement. In general, here are the options available: 1. Keep your savings in your previous employer’s 401(k) plan (typically allowed if you have a balance of $5,000 or more); 2. Transfer your savings to your new employer’s 401(k) plan; 3. Transfer your savings to a Rollover IRA; 4. Take a cash distribution.

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