Before you leave
- Get contact info for the 401(k) plan administrator.
- Check vesting; know what you keep vs. forfeit.
- Review loan rules; pay off any 401(k) loan if required.
Rollover options
- Roll into new employer's 401(k) if allowed and fees are low.
- Roll into an IRA for more investment choices and control.
- Avoid taking a cash distribution (taxes and possible penalty).
When you roll
- Do a direct (trustee-to-trustee) rollover to avoid withholding.
- Complete the rollover within 60 days if you do receive a check.
- Invest the rolled funds; don't leave in cash long-term.