Can I maintain Two 401k plans?
Wednesday, August 8th, 2007
rickyazmi asked:
I recently left my job and have a small investment in 401K. My new employer has their 401k plan, and I am also familiar with Rollover option. However, I dont understand the process too well. Is it advisable:
AA) that I leave my 401k with my former employer (as it is) and start fresh another 401k with my new employer? Will it have any negative impact?
BB) I roll it over to IRA (Schwab) and then also continue with the new 401k with my new employer?
CC)If I directly rollover to my new employer, will my former employer come to know the details of my new employment (my employer, my position etc??) Appreciate any sincere advise as I have never done this before.-Thanks folks…God Bless you all!
Question posted courtesy of: Lydia
I recently left my job and have a small investment in 401K. My new employer has their 401k plan, and I am also familiar with Rollover option. However, I dont understand the process too well. Is it advisable:
AA) that I leave my 401k with my former employer (as it is) and start fresh another 401k with my new employer? Will it have any negative impact?
BB) I roll it over to IRA (Schwab) and then also continue with the new 401k with my new employer?
CC)If I directly rollover to my new employer, will my former employer come to know the details of my new employment (my employer, my position etc??) Appreciate any sincere advise as I have never done this before.-Thanks folks…God Bless you all!
Question posted courtesy of: Lydia
