If you have changed jobs or considering changing your job you need to read this.
Do you or will you have retirement plan investments left behind after your job change?
If you do, understand the consequences in doing so.
- For most retirement plans you will incur fees; maintenance fees, transactional fees and administrative fees. These can have significant impact on your long-term returns.
- You can miss out on investment opportunities. Usually employed sponsored plans have fewer investment opportunities.
- You may have transfer rules. Failure to follow your employer-sponsored plan transfer rules may result in extra penalties and taxes.
Taking control of your retirement plan investments will provide you with the opportunity of investment choice.