Leaving a job doesn’t move your 401(k). It stays in your old plan until you decide what to do with it. Learn your choices here, and talk them over with a licensed specialist if you’d like.
Dave focuses on protecting what you’ve saved: annuities that guard against market drops, and life insurance for your family.
Licensed Insurance Agent with Rise North Capital
Never had an advisor? Christian keeps investing simple and shows you what your savings could be doing.
Investment Adviser Representative with Rise North Capital Investment Advisors
Works with clients across the U.S.
Investment accounts are held at a major custodian such as Charles Schwab or Fidelity, not by the advisor.
Easy to talk to and thorough: Jake builds complete plans, including for high-net-worth families.
Investment Adviser Representative with Rise North Capital Investment Advisors
Investment accounts are held at a major custodian such as Charles Schwab or Fidelity, not by the advisor.
Dominic works with executives and high-net-worth clients.
Investment Adviser Representative with Foundations Investment Advisors, LLC
Works with clients across the U.S.
Investment accounts are held at a major custodian such as Charles Schwab or Fidelity, not by the advisor.
When you leave a job, the account stays put by default. Here’s what that actually means for your money.
Your old plan’s fees don’t stop when your paychecks do. Depending on the plan, you may pay administrative fees and fund costs. It’s worth checking what you pay.
Logins lapse, addresses change and plan mail stops reaching you. Your investments may no longer fit your plans, and the plan won’t call to check.
There’s no deadline, but deciding while your old job’s details are fresh is easiest. About 31.9 million 401(k)s have been left behind at old jobs (Capitalize, 2025).
In a U.S. Department of Labor example, paying 1% more in yearly fees left a saver with 28% less after 35 years. That’s why it’s worth comparing what your old plan charges with your other options.
When you leave a job, your retirement money doesn’t move on its own. Here’s what you can do with it, and what each choice really means.
Most plans let you keep your money where it is if your balance is over $7,000. It stays invested, but it’s easy to lose track of, and you can’t keep contributing.
Consolidate old accounts into your new employer’s plan so everything is in one place and keeps growing with your new contributions.
Move your savings into an Individual Retirement Account. A direct rollover is tax-free and penalty-free, and a specialist can help you set it up and invest it properly.
You can take the money as cash, but you’ll owe income tax on the full amount, plus a 10% early-withdrawal penalty if you’re under 59½.
Three simple steps. The consultation is free, and you decide what happens next.
Tell us where your old 401(k) stands and where you live, then meet the specialist you’ll talk with. No account numbers, no paperwork.
Pick a time that works for you. On the call, the specialist walks you through your options: leave it, roll it to your new plan, or roll it into an IRA, including the tax impact of each.
If a rollover makes sense, your specialist helps you move the money directly between institutions. A direct rollover avoids the taxes and penalties of cashing out. Any account or product fees are explained before you decide.
Our education and your first conversation are free. If you work with a specialist, they’ll explain how they’re paid and what anything costs before you decide. See your rollover options.
A few key rules make the difference between a smooth, tax-free move and an expensive mistake.
In a direct rollover, money moves institution-to-institution and never touches your hands. No taxes withheld, no penalties. In an indirect rollover, the check comes to you, 20% is withheld for taxes, and you must deposit the full amount within 60 days or it counts as a taxable distribution.
If you receive a rollover check personally, the IRS gives you exactly 60 days to redeposit it into a qualified account. Miss the window and the entire amount becomes taxable income, plus a 10% penalty if you’re under 59½. A direct rollover avoids this risk entirely.
Old plans don’t have to keep small accounts. Under $1,000, your old employer can simply cash you out (triggering taxes). Between $1,000 and $7,000, they can automatically roll you into an IRA of their choosing, often with high fees and default investments.
Your first weeks at a new employer are the perfect time to consolidate. Enroll in your new plan, set your contribution rate to capture the full employer match, and decide what to do with old accounts while your benefits paperwork is already in front of you.
Don’t see your question? Email us at contact@401ktransition.com
Whether you just accepted an offer, are mid-transition, or found an old account you forgot about, send us an email and a real person will point you in the right direction.
Please don’t include account numbers, passwords, or your Social Security number in your first email. We’ll never ask for those.
Answer a few quick questions, then pick a time with one of our transition specialists. Free consultation, no obligation.
Pick a Time With a SpecialistTakes under a minute. No account numbers needed.