The Retirement Challenge: Will You Sink or Swim?

Lesson 23 Changing Jobs: Smart Moves for Your Pension Plan

There are no more lifetime jobs. Career changes are the new reality. If you are changing jobs, one of the many big decisions you will face is what to do with your pension plan. You have four basic choices, each with its own pros and cons:

•   Take the money.

•   Leave it in your old company’s pension plan.

•   Roll it over into your new company’s pension plan.

•   Roll it over into an IRA.

Do-It-Yourself

401(k) Spend It or Save It Calculator: There are several ways to manage your 401(k) when you leave an employer. Making the wrong decision can cost you thousands of dollars, both in ...