Changing jobs can impact your 401k retirement plan. To minimize disruptions to your contributions and the vested portion of your previous employer’s contributions, it’s important to understand the choices you may have when you make a career transition. We offer the following key considerations: Option 1: Stay Your previous employer may allow you to [...]
Congratulations on your new job! As you navigate through a new onboarding process, you stop suddenly when you get to the discussion of retirement plans. And then you think: What about my plan at my previous employer? What do I do with the money in that account? Good question. You have four options for [...]
Behavioral finance strategies improve the odds Generally speaking, we don’t encourage being shifty. But applying a few innovative moves in your 401(k) plan could result in increased retirement savings for your employees. That’s because, when it comes to money, subconscious perceptions can torpedo a plan participant’s success. Applying behavioral finance principles may help employees overcome [...]
Q: We keep hearing about participant lawsuits against 401(k) plans, and strive to do our best to avoid situations that could lead to one. Part of that is using prudent processes in the plan. We have asked our advisor and done some searching on our own, but haven’t been able to define what processes are [...]
Still have money in a 401(k) at an old job? If you are preparing to change jobs, do you know what your choices are for managing the money in your current employer's 401(k) or retirement plan? Although many people choose to take a cash distribution, there are other options that may benefit you more. [...]
Here are a few tips on how to keep your 401(k) working for you. As more workers plan to continue working later in life, at more organizations, the ability to preserve their nest egg and keep it growing when they leave their current company is more important than ever. Here ís an easy-to-understand guide to [...]
When you change jobs, it may be tempting to cash out your 401(k) plan. But doing this could derail your retirement savings just when it’s important to keep your money growing tax-deferred. Rolling over your assets to an individual retirement account (IRA) is one of the most popular options available to help keep your money [...]
A tax court ruling raises eyebrows & leads to a decision that may affect you. What was once allowed is now prohibited. In 2008, an affluent New York City couple made a series of withdrawals and transfers among contributory IRAs, rollover IRAs and non-IRA investment accounts, all with the long-established 60-day deadline for tax-free IRA [...]
