Rolling Over a 401k to Something New
If you have a 401k retirement plan and you are planning to move to another job, there are several options that you can do to avoid having to cash out your funds. One of the most recommended options is to do a 401k rollover to IRA.
First, you have to choose a bank, mutual fund company, or brokerage firm where you rollover your funds into. You have to open an account with that institution and comply with their rules regarding the 401k plan. There are certain charges that you need to pay for. If you encounter these, ask the advice of your reputable IRA custodian and see what he can do. There are other options that you can do with your account, such as transferring your existing mutual funds. This should be approved by the firm first before you can have it processed.
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