52, oursourced and lot to learn...

[mountainhouse]

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

 

[REWahoo]

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/

 

[Nords]

Welcome to the board, Frank.

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/forums/f28/ok-some-not-others-32592.html

 

[mountainhouse]

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.

 

[AzDreamer]

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..

 

[mountainhouse]

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.