How To Get 401K After Leaving A Job?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    A 401(k) plan is employer sponsored. If you are not employed but have funds to save for retirement you should consider an individual retirement account (IRA.) The amount that you can save each year in an IRA is substantially less than in a 401(k) but it might be sufficient for you. If you are self-employed there are modified IRA plans that might suit your needs better.
    Answered on September 23, 2014
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  2. 11783 POINTS
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    Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    How do you get your 401k after leaving your job? Usually you would contact your HR department and see what steps they may require for processing your account. What is important to the situation is what is your plan for those 401k monies. Are you going to roll them over into your new employers plan? Are you going to roll them over into an individual IRA? Are you going to convert them to a Roth IRA? or are you going to take the tax hit and cash your retirement out?
    Answered on October 16, 2015
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