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 Comments

  1. Quixotic
    Posted November 25, 2009 at 7:13 pm | Permalink

    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
    Posted November 25, 2009 at 7:20 pm | Permalink

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

  3. lmnop
    Posted November 26, 2009 at 12:31 am | Permalink

    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
    Posted November 26, 2009 at 4:17 am | Permalink

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

  5. shorty21
    Posted November 26, 2009 at 10:12 am | Permalink

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

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