Dominguezfool asks:

<<Should I rollover what I have into an IRA and make investments into funds that make better returns, or let the money sit until the new 401(k) is set up and take my chances with whatever investment choices the new company will offer. I also might add that I have a $3,000 loan borrowed against my 401(k) account. Please help me in making an informed decision.>>

While most Fools would prefer the investment selection to be found in an IRA, your situation is complicated by the existence of a loan. If you may delay the distribution from the old 401k, that may be better to you by allowing you to make payments against that loan before any funds are distributed.

A 401k loan that is unpaid at the time of a distribution is considered a "deemed" distribution to you. That means that balance will be taxed and it will be penalized 10% for an early withdrawal unless you repay the loan in full BEFORE the distribution takes place. For that reason, you should think long and hard before you decide to move that money. Also, you need to see if and when the new plan comes into being whether you can continue that loan. If not, you'll be faced with the same situation at that time.

Regards..Pixy