Answers in 401k Plans

Here you will learn to understand your 401k and how to utilize your retirement plan as a valuable ally in the fight for a successful retirement.
1 vote
Todd Warner Level 8
Dia - This is a common question and the answers that have been given are correct. Retirement accounts are for one person and you can't combine it with someone else and make it a joint account. They are individual retirement accounts. Your choices at this ...(more)
2 votes
All of these answers are excellent. I would also advise making sure you have updated your beneficiaries on these accounts. Simple things like this can be just as important as more complicated investment decisions.
3 votes
Jim Hofheimer Level 4
Your choices are to roll over to your new employer's plan or roll into an IRA. I would work with someone to find out whether the new employer's plan is low cost with good options before deciding.
2 votes
I would look at two factors when making this decision: How good are the investment options in the new 401k, and how involved do you want to be in managing this money? IF you enjoy managing your 401k and the investment lineup is good I would move the ...(more)
0 votes
The answer depends on the cost of the 401(k) at your new employer and it's options. Costs are one of the few things you can control, and unfortunately, too many times we see the costs of a 401(k) plan get into the 1.5% - 2.5% range of costs, which is ...(more)
0 votes
John Essigman Level 17
Hi Dia, As Thomas has described, IRA and 401(k) accounts belong to an individual person. They generally cannot be combined or comingled with the exception of a spouse inheriting an IRA, which can be claimed as their own if they so choose. Therefore, ...(more)
1 vote
Thomas Larsen Level 5
Roll your old 401(K) into the new job's 401(K), if costs are low and investment choices are of high quality. Combining your 401(K) with your wife's 401(K) is prohibited. Your combined household rate of return is not affected. Your next best option is ...(more)
1 vote
A plan may have one or more fiduciaries. Each of the fiduciaries may have different responsibilities and many individuals/committees serve in multiple fiduciary roles. Here is a simplified list, along with brief definitions, of each category of fiduciary: • ...(more)
3 votes
John N Dimatteo Level 7
Jose, you should contact your retirement plan custodian. They will be able to assist you with logging on to your accounts. They will also be able to walk you through establishing or changing your user name and password. There probably is a customer ...(more)
2 votes
That's an excellent question, Toni. If your 401(k) plan has dozens of different options, it can be hard to know which one is the best for you. As others have mentioned, talk to your company's HR department to see what resources are available to you. Also, ...(more)
2 votes
Ken Krausman Level 9
Hi Toni, If you've yet to find an answer that works for you, please contact me right away. Our firm offers a service that may do exactly what you are looking for! Contact me with your e-mail address and I'll send you a link to see for yourself. I can ...(more)
1 vote
Joe Soto Level 15
Hi Toni, Just more food for thought. I would start with looking at and reading your enrollment kit. This should help give you an idea of what kind of investor you are and what kind of lineup (stocks vs. bonds) you should have. From there I would contact ...(more)
1 vote
I agree with other's advice to ask your financial adviser's advice, but I suspect you would have done that if you had one. The best two places online for you to check out funds yourself are Morningstar and Lipper. It may be worth it for you to pay a monthly ...(more)
1 vote
Rich Winer Level 20
If you receive quarterly statements from your retirement plan custodian, there should be an 800 number listed on the statement. The plan custodian should be able to help you find your username and password to log in online or help you establish a new ...(more)
3 votes
Rich Winer Level 20
Toni, As the others have said, you should be able to obtain advice and information from your employer, HR department of plan custodian (who will likely have an 800 number). As plan sponsor, your employer has a fiduciary responsibility to ensure that you ...(more)
  • posts per page
  • 15