Consolidate your plans
Did you contribute to a 401(k) plan with a former employer?
If you still have retirement savings in a prior employer’s plan, it may be wise to consider rolling over that old 401(k) into an IRA. Here's why:
- Simplicity. It's easier to manage all of your retirement investments when they’re in one place.
- Save on fees. It’s usually cheaper to have one account. You may also qualify for fee breaks, depending on the account size and investment type.
- More choices. 401(k) contributions can only be invested in the options available within the plan. If rolled over into an IRA, you have a near limitless selection of retirement investments (depending on your particular IRA provider).
Do you have more than one retirement fund?