Is It Possible To Keep Your 401k Savings After Leaving Your Current Employer?

I got a package in the mail from TRowe, which gave me the option of actually keeping my 401k with my former company. Is this possible and is there a disadvantage/advantage to this?

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5 Responses to Is It Possible To Keep Your 401k Savings After Leaving Your Current Employer?

  1. Quixotic says:

    If you think they are doing a good job managing it, keep it there.
    In general, I think it’s a better idea to roll it over into an IRA. It gives you a wider range of choices to invest in, and some are better than your current limited number of choices your employer offers.

  2. Dixie says:

    yes you can.My husband just did ours that way..

  3. lmnop says:

    They may charge you an administrative fee now that you are no longer employed there. But if your new employer doesn’t offer a 401(k), you would have to pay a fee anyway to somebody as the custodian of an IRA you might roll it into, and you like the investment options, then you should consider leaving it there.

  4. Nelson_D says:

    It’s possible, and it may be advantageous, but if you move it you can move it where you would like it.

  5. shorty21 says:

    yes, let them know that u have another job and what paper work u need to feel out..