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The company I have been employed with for 15 years 9 mos went chapter ll in March and now are selling assests. The location I work at is one of the terminals to be purchased. I have approximately $40,000 in a retirement fund plus I have an 401K and a small IRA. What are my options with the retirement funds? I know I can roll my 401K to the new company if I stay there but it is 401K/profit sharing only, no retirement fund. Where do I find out what my options are. I am 50 years old.
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Greetings, 11751, and welcome. You asked:

The company I have been employed with for 15 years 9 mos went chapter ll in March and now are selling assests. The location I work at is one of the terminals to be purchased. I have approximately $40,000 in a retirement fund plus I have an 401K and a small IRA. What are my options with the retirement funds? I know I can roll my 401K to the new company if I stay there but it is 401K/profit sharing only, no retirement fund. Where do I find out what my options are. I am 50 years old.

Your HR department will tell you your specific options for both plans. However, in general, they will be the same as those I outlined in "Transfer or Roll Over Your 401(k)" at http://www.fool.com/retirement/retireeport/2001/retireeport010312.htm and in "Getting the Loot to an Individual Retirement Account" at http://www.fool.com/retirement/manageretirement/manageretirement5.htm.

Regards..Pixy
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