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Rehired. A second 401k ?

Absolutely. However, if you are being rehired on a "temporary" basis, the Personnel Office may not consider you eligible for a 401k.

Some companies have waiting periods, with others you are immediately elgible. (It costs money to enroll an employee, and they want to make sure new hires stay ahwile, ergo the waiting period.)

As a "temp" -- you might not have a full bag of benefits.

But sock away all you can. . . especially if there is any matching. And make sure you consider a Roth or Conventional IRA contribution, up to the limit of your wages.

IF you are enrolled in the 401k, take the money an roll it into another IRA. Then into a Roth if you are fairly young.

MULTIPLE IRAs. There are costs,as pointed out, and small amounts are just not handy to invest in stocks.

HOWEVER, smaller IRAs make the beneficiary question MUCH easier. Instead of multiple beneficiaries on one account, you could name one primary beneficary to each of several accounts. (Until recently it was a REAL problem for beneficiaries of different ages, since withdrawals had to be based on the OLDER person's age. But that has been change, as I understand it.)
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