I left my old employer and have a pension and 401k to potentially roll over. The pension rollover is a no-brainer for me. My understanding is there is no time limit to roll over the 401k. Is this correct?
At my new employer, I am on probation until November, when I can start contributing to their 401k (on a side note, I'm hoping I can still max out this year, despite missing this 3 month period). So, I don't have many details of my new plan yet. My instinct is that my old plan will have better investment options. In the meantime, I'm thinking I'll roll the pension into my old employer's 401k. Then, I can take my time a little on deciding whether to take the entire 401k and roll it over into an IRA or what.
I'm trying to research this myself, but I figured this is a pretty knowledgeable group. Is there any advantage to leaving the money in a 401k versus an IRA? The only thing I can think of is that my old plan has a special pool index fund which has no fee. Is that worth giving up for the diversity of IRA investment options? Could I roll over everything BUT this one special fund? If I hold closed funds in my 401k, will I lose the ability to invest in those if I roll over?
Thanks in advance.
Jason
At my new employer, I am on probation until November, when I can start contributing to their 401k (on a side note, I'm hoping I can still max out this year, despite missing this 3 month period). So, I don't have many details of my new plan yet. My instinct is that my old plan will have better investment options. In the meantime, I'm thinking I'll roll the pension into my old employer's 401k. Then, I can take my time a little on deciding whether to take the entire 401k and roll it over into an IRA or what.
I'm trying to research this myself, but I figured this is a pretty knowledgeable group. Is there any advantage to leaving the money in a 401k versus an IRA? The only thing I can think of is that my old plan has a special pool index fund which has no fee. Is that worth giving up for the diversity of IRA investment options? Could I roll over everything BUT this one special fund? If I hold closed funds in my 401k, will I lose the ability to invest in those if I roll over?
Thanks in advance.
Jason