Need to save more for retirement? Don’t forget that if you’re age 50 or older, each year you can make an additional “catch-up contribution” of $6,000 to your workplace retirement plan, along with an extra $1,000 contribution to
It is important to carefully consider all of your options and individual circumstances when evaluating your choices. Generally, there are four options to consider; note that features, benefits, fees, and expenses vary significantly
among employer plans and IRA offerings and not all options discussed below will be available in all circumstances.
- Leave money in the existing plan
- Roll the funds into an IRA
- Roll the funds into a new employer's plan
- Cash out your existing employer plan