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Financial Planning / Foolish 401(k)s

URL:  http://boards.fool.com/i-think-you-are-a-little-off-track-no-two-401k-30128325.aspx

Subject:  Re: Contemplating a move... Date:  7/2/2012  3:52 PM
Author:  mjolah Number:  24906 of 25247

I think you are a little off track. No two 401(k) plans are the same. Each employer gets to design it how they choose - subject only to staying within the bounds of hte tax code and ERISA (labor laws). The two plans may be "recordkept" at the same place (Fidelity, Vanguard, Schwab, etc). - but will still have it's own features based on the employer's choice (subject only to certain recordkeepers have some additional limitations placed on the business they are willing to accept).

If the same recordkeeper handles both plans, the transfer may be easier (*may* be, not necessarily so), but even if they aren't the same, the transfer should be pretty painless. ASK you prospective employer if rollovers are accepted, and if so, may loans be taken from the "rollover source."
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