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For many employees, what to do with a 401(k) plan at retirement has been a foregone conclusion: Roll it over. In a 2021 Pimco survey of retirement plan consultants and advisors, 36% of firms said ...
A 401(k) plan. Traditional 401(k) plans are employer-sponsored retirement plans, which means they are only available to employees of a company that has signed up to use a 401(k) service as an ...
Image source: Getty Images. Don't let your 401(k) plan run on autopilot. Opening a new 401(k) can be overwhelming. You have to decide which investments are the best for you, and figure out how ...
Employers incur costs for maintaining a 401(k) plan, and those may be passed on to you. If your plan does, transferring your account to an IRA can also help you avoid those fees and reduce your ...
If you want to get the most out of your 401(k) account, you obviously need to contribute money of your own. Your 401(k) lets you choose between a variety of funds your employer has pre-selected.
Leave it with your old employer’s 401(k) plan. This approach requires the least amount of work, but may require you to have a minimum amount (often $5,000) if you plan to maintain the account there.
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