You may have moved on from your last job, but what about your retirement money? During times of career change, don’t forget about your retirement account – learn the options so you can make the best choice for your financial future.
Career transitions can be stressful. Your retirement account may not have been the first on your mind during this time, but the decisions you make about your retirement savings can have an important impact on your financial future. The Participant EffectSM can help you make the transition process easier and ensure you keep your money working for you.
If you’re like many other American workers, you may change jobs several times throughout your career, and you may have several different retirement accounts with those employers. It can become confusing keeping track of everything. However, it’s important to know that you have several different options available to you in regards to your retirement accounts with previous employers. The options include:
- Remain in your current plan
- Rollover to another employer’s plan
- Rollover to an individual retirement account (IRA)
- Take a cash distribution
There are pros and cons to consider with each option – that’s where The Participant Effect team comes in. They can provide you with one-on-one help – from clearly explaining the details of each option to assisting you with any necessary paperwork. Don’t let a career transition throw your retirement goals off track.
The Road to Retirement: Take Control of Your Future
You have heard that your reality is what you make of it - work toward a bright future by keeping track of your retirement plans.