You may have had multiple jobs over your career, and left behind retirement account balances of critical building blocks for your retirement. Here is a short guide to your options of what to do with a retirement account left with a former employer:
Roll it over to an IRA
Leave it in your plan
Transfer it to your current qualified plan (401k, 403b)
You also have the option to take a withdrawal from your qualified plan account. Taking money now means you will have money right now, but it could come at a price of an early withdrawal penalty and taxes due.
Have more questions? We can help provide guidance on the option that’s most appropriate for your individual circumstances.
Securities offered through LPL Financial, Member FINRA and SIPC. Investment Advisory Services offered through ISG Financial Advisors, a registered investment advisor. ISG Financial Advisors and LPL Financial are separate non-affiliated entities.
This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal or investment advice. LPL Financial and its advisors are providing educational services only and are not able to provide participants with investment advice specific to their particular needs. If you are seeking investment advice specific to your needs, such advice services must be obtained on your own separate from this educational material.
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