401k - 403b - TSP- IRA : Understanding Your Options
If you are retiring or changing jobs, you may have complicated choices to make regarding your retirement account assets. What you do with these assets could significantly impact your lifestyle in retirement. Often, a plan participant leaving an employer typically has four options:
A plan participant leaving an employer typically has four options (and may engage in a combination of these options), each choice offering advantages and disadvantages.
- Leave the money in his/her former employer’s plan, if permitted;
- Roll over the assets to his/her new employer’s plan, if one is available and rollovers are permitted
- Roll over to an IRA
- Cash out the account value.
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