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401(k) portability
You usually have four basic
401(k)
options when you
leave your job: |
| 1. |
Sometimes you can
leave the assets where they are, in your former employer's
plan. |
| 2. |
You may be able to
roll over
the assets into a new employer's plan, if the
plan accepts rollovers. |
| 3. |
You can roll over the assets
into an
individual
retirement account
(IRA) of your choosing. |
| 4. |
You can cash out your 401(k)
earnings and contributions — called taking a cash distribution. |
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