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52, oursourced and lot to learn...
Old 01-17-2008, 11:19 AM   #1
Confused about dryer sheets
 
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52, oursourced and lot to learn...

Wanted to say hello! I work for AT&T, and have been outsourced. Fortunately, this means I'll be doing the same work for the same money at another company. However, AT&T considers me a retiree, so I've got a bunch of decisions to make. Will be making heavy use of the search function. Started by opening an account at Vanguard, since I don't think I want to leave the 401K and pension money at Fidelity. This will all be happening at the end of February. Thanks,

Frank
Northern CA
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Old 01-17-2008, 11:29 AM   #2
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Frank, welcome to the forum. As to moving your retirement funds from Fidelity to Vanguard, I think that's similar to trading a Toyota for a Honda. Both have good track records for providing low cost funds so the decision turns mostly on personal preference.

In addition to using search, be sure to check out these:

http://www.early-retirement.org/forums/f47/
http://www.early-retirement.org/forums/f35/
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Old 01-17-2008, 12:32 PM   #3
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Welcome to the board, Frank.

Quote:
Originally Posted by mountainhouse View Post
Wanted to say hello! I work for AT&T, and have been outsourced. Fortunately, this means I'll be doing the same work for the same money at another company. However, AT&T considers me a retiree...
How coincidental-- or is this a new trend?
http://www.early-retirement.org/foru...ers-32592.html
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Old 01-17-2008, 02:28 PM   #4
Confused about dryer sheets
 
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Oops. Should I have said, "Mega-corp"? Yup, sure does sound like the same situation. Here's the press release from AMDOCS:
Amdocs Shares Up on AT&T Deal - Forbes.com
Fortunately, I am retirement eligible, meaning I come out of this pretty good. bbbami is correct - many are not so lucky. Thanks for the links, REWahoo.
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Old 01-17-2008, 05:40 PM   #5
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The decision to transfer your 401k to an rollover IRA can be complicated by a few differences that don't matter to most folks but might make a big difference to some.

A 401k may have more legal protection from creditors than an IRA.

You can usually borrow from your 401k plan, but not from your IRA.

Company stock held in a 401k could receive favorable tax treatment if you have it distributed directly. Such favorable treatment doesn’t apply if the company stock is rolled over into an IRA..
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Old 01-17-2008, 05:58 PM   #6
Confused about dryer sheets
 
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Had not considered the creditor aspect. Thanks. The Vanguard rep had mentioned potential tax benefits regarding the stock in the 401k. He seemed a little more thorough than most.
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