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American Century is offering a rollover IRA option and I'm debating on whether to take it or not. I really have not had any complaints with the plan per say. Other then, from a psychological standpoint I would like to make a "complete" break from my previous employer and this 401k is the only thing left.

You can roll it over to any IRA trustee you like, not just American Century. However, if you went to another trustee, you would probably have to roll cash over and buy new securities, possibly paying loads and commissions and whatnot.

The advantage to staying in the 401k is that you are probably paying less in account maintenance fees.

The advantage to rolling over to an IRA is that you can invest in whatever you like, not just what the 401k plan offers.

One word of caution: if your former employer changes or closes out the 401k plan, you might not find out about the changes until the last minute. My former employer changed 401k providers, and a former employee friend-of-a-friend didn't hear about it until she got a 401k statement from the outgoing provider that showed her entire balance being withdrawn on Feb 21!

Good Luck,
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