I stopped working in August 2016 and still have the company 401K. I am considering moving it to my normal IRA to simply things. Both are at the same large brokerage company.
I can pick funds for the 401K and it seems to have recently swapped the "supposed" premium versions of funds to the same class that I have in my regular brokerage. There seem to be some sort of "fees" being deducted quarterly from the 401K. I don't think my IRA has such deductions, but there may be some sort of fees built in that I do not realize.
So, my question is: "Is there any major reason that I would want to keep the 401K active and not roll it to an IRA?"
I am under the impression that the 401K will be added to my IRA's for the mandatory distributions once I hit 70. The 401K does not help dodge that does it?
I remember reading somewhere that if you were sued it was harder to take the money in the 401K compared to the IRA. Is that a consideration?
Other than that I can't see any reason not to consolidate into the IRA.
Thanks in advance for any advice.
Joe
I can pick funds for the 401K and it seems to have recently swapped the "supposed" premium versions of funds to the same class that I have in my regular brokerage. There seem to be some sort of "fees" being deducted quarterly from the 401K. I don't think my IRA has such deductions, but there may be some sort of fees built in that I do not realize.
So, my question is: "Is there any major reason that I would want to keep the 401K active and not roll it to an IRA?"
I am under the impression that the 401K will be added to my IRA's for the mandatory distributions once I hit 70. The 401K does not help dodge that does it?
I remember reading somewhere that if you were sued it was harder to take the money in the 401K compared to the IRA. Is that a consideration?
Other than that I can't see any reason not to consolidate into the IRA.
Thanks in advance for any advice.
Joe