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My 401K from my former place of employment is still with that company. I was told that in order to leave intact there, I had to have a certain amount in my plan. I do, but now I am coming up on my first anniversary with my new company, which will allow me to start participating in their 401K. With that being said, how do I go about moving my current 401K balance over to my new plan? AND (1) what are the benefits in doing so? (2) Are there any conditions/factors I need to look out for when the change takes place
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With that being said, how do I go about moving my current 401K balance over to my new plan? AND (1) what
are the benefits in doing so? (2) Are there any conditions/factors I need to look out for when the change takes place

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You should just be able to have it directly transfered by contacting the old company's HR department and coordinating with your own.

What you might want to do, instead of transferring it to the new company's 401K, is transfer it to a self-directed Rollover IRA at a discount broker. You will generally have more options with the IRA than with a 401K plan.

http://www.fool.com/retirement/retireeport/2000/retireeport001023.htm

You can get more help with all of this on the Retirement Investing message board in the Managing Your Finances folder. Just hit Discussion Boards on the home page or Folders below :)

Patrick

A Fool and his money are soon partying
;-)
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