Roll over 401K

[gerritm]

My wife lost her job. We need to roll over her 401k. Anyone ever deal with the Mutual Fund Store? They do a radio show here in Houston and seem to make some sense with how their strategies work. Any other ideas.

 

[Sea-Dated]

Never heard of them. When that happened to my wife, we contacted our local banks investment branch and had them handle everything.

 

[Big Time]

Does she have a new job with an employer that has a 401(k) plan?

 

[gerritm]

Does she have a new job with an employer that has a 401(k) plan?

No, she has several leads on jobs, but hasn't found one.

 

[sledge]

If it just happened, she should have some time? Does former employer offer to keep the 401k active? Not always best idea, and sometimes requires minimum balance, but an option to hold out until new 401k is found and avoid forced sale. How about an account with whoever administers current 401k?

 

[MarylandMark]

Sorry to hear and good luck on the job search!


1st few lines of this link have some info that may apply

https://401k.fidelity.com/public/content/401k/About401ks/FAQaboutchangingJob

 

[Big Time]

I was thinking along the same lines....if she thinks that she will be getting a new job in the next year I would just leave it. Most likely she will be able to keep it there as long as she wants to as long as it is above a minimum amount (3-5k normally). If she waits until she gets to a new employer she should have the advantage of and HR dpt or something along those lines that will be able to assist with the roll over process. I would say leave it along unless you absolutely hate the offerings from the previous plan. The less you roll it the better.