401k & Rollovers
Review Your Retirement Options With Confidence
If you've changed jobs or have an old 401(k), we can help you review your options—including keeping your account where it is, moving it to a new plan, or considering an IRA rollover—to make sure your retirement savings stay aligned with your goals.
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Meet Our Team Schedule Appointment
In some cases, keeping assets in your previous employer’s retirement plan may be an option. We’ll help you understand the advantages and limitations.
If your new employer offers a retirement plan, consolidating accounts may help simplify management and tracking.
Rolling assets into an Individual Retirement Account (IRA) may provide additional investment flexibility and retirement planning opportunities.
How We Can Help
- Evaluate all available rollover options
- Understand the benefits and considerations of each choice
- Coordinate retirement accounts within your overall financial plan
- Avoid common rollover mistakes
- Make informed decisions with confidence
When you leave an employer, your 401(k) doesn’t disappear—but you do have important decisions to make about your retirement savings. Understanding your options can help you:
- Keep your retirement savings organized
- Avoid losing track of old accounts
- Simplify account management
- Align investments with your retirement goals
- Maintain a clear long-term financial strategy
- Make informed decisions about rollovers and account transfers
Whether you leave your assets where they are, move them to a new employer’s plan, or consider an IRA rollover, reviewing your options can help ensure your retirement savings continue working toward your long-term goals.
Frequently Asked Questions
What happens to my 401(k) when I leave my employer?
In most cases, the money in your 401(k) remains yours. Depending on your plan’s rules and account balance, you may be able to leave it with your former employer, roll it into a new employer’s plan, roll it into an IRA, or take a distribution.
Should I roll over my old 401(k)?
The answer depends on your individual circumstances, goals, investment preferences, and the features available in your current and former retirement plans. We’ll help you evaluate the pros and cons of each option.
Can I have more than one 401(k)?
Yes. Many people have multiple retirement accounts from different employers. However, consolidating accounts may make it easier to manage investments and track your retirement progress.
What's the difference between a 401(k) and an IRA?
Both are tax-advantaged retirement accounts, but they have different contribution rules, investment options, and features. An IRA may offer greater investment flexibility, while employer-sponsored plans may provide unique benefits.
Are there taxes or penalties when rolling over a 401(k)?
A properly completed direct rollover is generally not a taxable event. However, certain transactions or distributions may have tax implications. We can help you understand the rules and avoid common mistakes.
How do I know which option is right for me?
There is no one-size-fits-all answer. Factors such as your age, retirement goals, investment preferences, current employment situation, and overall financial plan should all be considered before making a decision.
A conversation today can help you better understand your retirement account choices and determine the option that aligns with your long-term goals.
*Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Consumers Credit Union and Consumers Investment Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Consumers Investment Services, and may also be employees of Consumers Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Consumers Credit Union or Consumers Investment Services. Securities and insurance offered through LPL or its affiliates are:
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