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Need to roll over a 401 k to your acount?

Mar 18, 2012 by dennis from Coventry, RI in  |  Flag
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Dennis,

A little more information is needed to clarify your question.

If you are looking to rollover a 401k account to a traditional IRA, that is a smart thing to do. It will give you more freedom of investments to choose from and may actually lower fees. Depending on the amount of the rollover, Vanguard is a good choice for the smaller, individual investor. For larger accounts, I would look for a Registered Investment Advisor that will have a fiduciary duty to you and your account.

If you are looking to rollover a previous 401k account to a new employer's plan, I would ask for a disclosure of all fees that are in the current plan to make sure that this is a good idea. Brightscope is a good place to start looking at any 12b-1 fees and other revenue sharing situations.

Either way, you will want to do a "trustee to trustee" rollover, which will be the simplest for you. Usually all it takes is a 1 to 2 page form and a signature and a little patience. Former 401k plans tend to drag their feet when transferring money out of their hands.

1 Comment   |  Flag   |  Mar 18, 2012 from Lititz, PA
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