A 401(k) rollover sounds a lot more complicated than it is. Presented by BrighthouseFin
to a checking or savings account. Because you're putting the money in another retirement account, the rollover allows you to avoid the taxes and penalty that would come with a withdrawal as long as you deposit the funds in a new tax-advantaged account quickly enough. Current rules require you to deposit the funds in your new account within 60 days.
The reasons: avoiding expensive 401 management fees and getting access to a wider range of investment options. Also, if you change jobs, it might be more convenient to move your money so you can stop keeping track of old accounts.today ranges between around 0.50% and 3% depending on the size of your employer's plan. Bigger companies with larger plan assets typically get lower rates. Those at small businesses and mid-sized employers pay more.
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