401k balance does not impact any potential backdoor Roth conversion. I've kept my military TSP even though I'm long since separated as the fees are really low and gets a decent return. Roll over your 401(k) into a new employer's plan. Hidden in each one of those 401k's is an account maintenance fee taken out quarterly or annually. Step … Does this sound right? Am I crazy/wrong for wanting to convert this fund into Roth, as opposed to leaving them and starting a new Roth from $0? I roll all mine over to Vanguard. Roll over your 401(k) to an IRA. See the pros and cons of a 401(k) rollover. I like having mine in one place. Using an employer-sponsored 401(k) plan can be a great way to save for retirement. Those fees will kill whatever return you have with such small balances. Not all employers will accept a rollover from a previous employer’s plan, so check with your new employer before making any decisions. I will check to see if they accept 401 rollover but will there be an issue with that if the majority of my balance at Voya is pretax and employer match? Employer match always goes into the pre-tax "side" of the account, regardless of how you set up your contributions. Whether the cost is worth the benefit depends on your current tax rate, your estimated tax rate in retirement, whether you think you'll be impacted by Required Minimum Distributions (amount that you must pull annually from a Traditional account once reaching age 70), and probably factors I'm forgetting or don't know about. What happens if I have unclaimed 401k funds from a previous job? Doing the opposite - moving money from an IRA into your workplace retirement account - is known as a "reverse rollover." They did not appear to have a direct electronic transfer option unfortunately. Press question mark to learn the rest of the keyboard shortcuts, https://www.bogleheads.org/forum/viewtopic.php?t=233103. /*# sourceMappingURL=https://www.redditstatic.com/desktop2x/chunkCSS/IdCard.0f76af1b61e8e247d28f.css.map*/._2JU2WQDzn5pAlpxqChbxr7{height:16px;margin-right:8px;width:16px}._3E45je-29yDjfFqFcLCXyH{margin-top:16px}._13YtS_rCnVZG1ns2xaCalg{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:18px;display:-ms-flexbox;display:flex}._1m5fPZN4q3vKVg9SgU43u2{margin-top:12px}._17A-IdW3j1_fI_pN-8tMV-{display:inline-block;margin-bottom:8px;margin-right:5px}._5MIPBF8A9vXwwXFumpGqY{border-radius:20px;font-size:12px;font-weight:500;letter-spacing:0;line-height:16px;padding:3px 10px;text-transform:none}._5MIPBF8A9vXwwXFumpGqY:focus{outline:unset} What account fees are charged in the old 401ks? good lineup of Vanguard index funds), I generally favor consolidating former plans into the current 401k. I’m afraid the expense ratios will eat away at my returns if I leave it in long-term. Depending on your income level, it might even be worth taking the hit on a Roth conversion, though that's not super likely. Pros: Fund options may be better than new 401k. As the title says, I have a 401k from 3 past employers still in their plans with varying amounts in them (under 10k each). In fact, with many companies choosing to close out their traditional pension plans, it's encouraged for workers to roll the pension into an IRA or another employer plan like a 401(k). So a 401k can be "pre-tax only" or "pre-tax and Roth", I don't believe "Roth only" 401k is a thing. Option 1: Leave the accounts as-is. It is not true that "only the biggest companies" use them. Worth noting, some bloggers have suggested that the taxable investment account is pretty much just as good as a Roth IRA if you plan to retire on approximately <$90k per year (today's money). Not knowing this one simple 401K … The "con" of rolling accounts over to a rollover IRA is that it blocks "backdoor Roth" contributions. It needs to be a spectacular 401k (read: usually found at only the biggest companies) to beat out the fund choices available via a Vanguard IRA. Bogleheads is a financial resource. A given plan can have restrictions about receiving a rollover, so double-check what your plan allows. I have an old 401k (I think) from an internship get transferred because it was less than $5k and I'm about to leave my current employer, also with a 401k less than $5k. Your Traditional IRA investments will (hopefully) continue to grow even without annual contributions. I'm debating on opening a Schwab account and rolling it into there or rolling it to my current 401k. If you are over the income limit for roth IRA contributions (or think you may be in the future), rolling a 401k to an IRA is bad, as they will prevent you from doing backdoor Roth IRA contributions. If you are relatively young, you are not going to retire for decades. Fidelity is indeed my current 401k provider through my employer. I also have a 50k 401k with rollover option. Americans lost track of more than $7.7 billion worth of retirement savings in 2015 alone by “accidentally and unknowingly” abandoning their 401(k). ._3Im6OD67aKo33nql4FpSp_{border:1px solid var(--newCommunityTheme-widgetColors-sidebarWidgetBorderColor);border-radius:5px 5px 4px 4px;overflow:visible;word-wrap:break-word;background-color:var(--newCommunityTheme-body);padding:12px}.lnK0-OzG7nLFydTWuXGcY{font-size:10px;font-weight:700;letter-spacing:.5px;line-height:12px;text-transform:uppercase;padding-bottom:4px;color:var(--newCommunityTheme-navIcon)} Both Fidelity and Vanguard offer low cost 401ks. The simplified answer is that for most people, in most situations, rolling into an IRA is your best move. Go Curry Cracker had a nice set of articles starting here. This has nothing to do with investment choices and expenses. Once that is complete, I will have two 401k accounts from previous employers. So if you have a decent 401k at your current employer it is "better" (in terms of your long-term IRA conversion options) to roll the old 401ks into the new 401k versus a rollover IRA. Pros: This consolidates your accounts to simplify management. Pros: Much wider selection of investment options than offered in a 401k. If your old 401k had very cheap expense ratios and good fund options, and your new employer doesnt, moving to the new 401k is bad. I was looking into this option this morning and Voya said they would cut a check to either myself or Fidelity. I asked my financial advisor about starting the process to roll these funds into a Roth IRA that I'd start contributing to every month. He couldn't exactly explain why he didn't think it was a good idea, just that he'd recommend not doing it. You need to know what are all the investments available in all 3 and their fees. Pros: This consolidates your accounts to simplify management. Make a pre-tax and a post-tax personal IRA and switch the employer accounts into whichever one is the same type as the employer was using. I could have purposefully over-contributed against the IRS maximum by adding additional funds to my new 401K, and then withdrawn the funds from my previous employer’s lesser-matching 401K at the end of the year! Please contact the moderators of this subreddit if you have any questions or concerns. Right now your funds have an average expense ratio of 1.14% which is very, very high. But, they don't take the time to … Roll everything into a self directed personal IRA when you leave your employer. I left a 401k in an old account and it was a headache. For an optimal experience … You are on the hook for any account fees (often covered by your employer while you're working for them), but if its something reasonable like a flat dollar amount under $50 per year, then that's not a dealbreaker. The pro is that if the funds and fees are better in the old one, you can leave it there. ._2a172ppKObqWfRHr8eWBKV{-ms-flex-negative:0;flex-shrink:0;margin-right:8px}._39-woRduNuowN7G4JTW4I8{border-top:1px solid var(--newCommunityTheme-widgetColors-lineColor);margin-top:12px;padding-top:12px}._3AOoBdXa2QKVKqIEmG7Vkb{font-size:12px;font-weight:400;line-height:16px;-ms-flex-align:center;align-items:center;background-color:var(--newCommunityTheme-body);border-radius:4px;display:-ms-flexbox;display:flex;-ms-flex-direction:row;flex-direction:row;margin-top:12px}.vzEDg-tM8ZDpEfJnbaJuU{color:var(--newCommunityTheme-button);fill:var(--newCommunityTheme-button);height:14px;width:14px}.r51dfG6q3N-4exmkjHQg_{font-size:10px;font-weight:700;letter-spacing:.5px;line-height:12px;text-transform:uppercase;display:-ms-flexbox;display:flex;-ms-flex-pack:justify;justify-content:space-between}._2ygXHcy_x6RG74BMk0UKkN{margin-left:8px}._2BnLYNBALzjH6p_ollJ-RF{display:-ms-flexbox;display:flex;margin-left:auto}._1-25VxiIsZFVU88qFh-T8p{padding:0}._3BmRwhm18nr4GmDhkoSgtb{color:var(--newCommunityTheme-bodyText);-ms-flex:0 0 auto;flex:0 0 auto;line-height:16px} Keep in mind that you cannot take out a loan from an old 401k (not that you should but having the flexibility is a plus). The company I'm with now, I just became eligible and they do 100% match and vested as of day 1. Retirement Accounts (articles on 401(k) plans, IRAs, and more). In my experience, most 401k plans do allow rollovers from another 401k, rollovers from an IRA are less common. Cons: You are limited to only the investment options offered by your new plan. .FIYolDqalszTnjjNfThfT{max-width:256px;white-space:normal;text-align:center} You have full control over the account. https://www.reddit.com/r/personalfinance/wiki/retirementaccounts/rollovers, See the FAQ “What should I do with my old 401(k)?”, Depends on the funds options available in the accounts, what fees there are, if any, and if you expect to need to do backdoor Roth IRA in the future. If your new 401k has high fees or bad options, then just do the rollover IRA route with a brokerage of your choice. If you enact a rollover into an IRA you can find some good low-expense, no load funds that can reduce that to a fifth or less of what you're currently paying. We each have our own VG account now, but they set up the allocations as mirrors of each other so they function as a single account. ._3Qx5bBCG_O8wVZee9J-KyJ{border-top:1px solid var(--newRedditTheme-line);margin-top:16px;padding-top:16px}._3Qx5bBCG_O8wVZee9J-KyJ ._2NbKFI9n3wPM76pgfAPEsN{margin:0;padding:0}._3Qx5bBCG_O8wVZee9J-KyJ ._2NbKFI9n3wPM76pgfAPEsN ._2btz68cXFBI3RWcfSNwbmJ{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:21px;display:-ms-flexbox;display:flex;-ms-flex-pack:justify;justify-content:space-between;margin:8px 0}._3Qx5bBCG_O8wVZee9J-KyJ ._2NbKFI9n3wPM76pgfAPEsN ._2btz68cXFBI3RWcfSNwbmJ.QgBK4ECuqpeR2umRjYcP2{opacity:.4}._3Qx5bBCG_O8wVZee9J-KyJ ._2NbKFI9n3wPM76pgfAPEsN ._2btz68cXFBI3RWcfSNwbmJ label{font-size:12px;font-weight:500;line-height:16px;display:-ms-flexbox;display:flex;-ms-flex-align:center;align-items:center}._3Qx5bBCG_O8wVZee9J-KyJ ._2NbKFI9n3wPM76pgfAPEsN ._2btz68cXFBI3RWcfSNwbmJ label svg{fill:currentColor;height:20px;margin-right:4px;width:20px}._3Qx5bBCG_O8wVZee9J-KyJ ._4OtOUaGIjjp2cNJMUxme_{-ms-flex-align:center;align-items:center;display:-ms-flexbox;display:flex;-ms-flex-pack:justify;justify-content:space-between;padding:0;width:100%}._3Qx5bBCG_O8wVZee9J-KyJ ._4OtOUaGIjjp2cNJMUxme_ svg{display:inline-block;height:12px;width:12px}.isInButtons2020 ._4OtOUaGIjjp2cNJMUxme_{padding:0 12px}.isInButtons2020 ._1ra1vBLrjtHjhYDZ_gOy8F{font-family:Noto Sans,Arial,sans-serif;font-size:12px;font-weight:700;letter-spacing:unset;line-height:16px;text-transform:unset}._1ra1vBLrjtHjhYDZ_gOy8F{--textColor:var(--newCommunityTheme-widgetColors-sidebarWidgetTextColor);--textColorHover:var(--newCommunityTheme-widgetColors-sidebarWidgetTextColorShaded80);font-size:10px;font-weight:700;letter-spacing:.5px;line-height:12px;text-transform:uppercase;color:var(--textColor);fill:var(--textColor);opacity:1}._1ra1vBLrjtHjhYDZ_gOy8F._2UlgIO1LIFVpT30ItAtPfb{--textColor:var(--newRedditTheme-widgetColors-sidebarWidgetTextColor);--textColorHover:var(--newRedditTheme-widgetColors-sidebarWidgetTextColorShaded80)}._1ra1vBLrjtHjhYDZ_gOy8F:active,._1ra1vBLrjtHjhYDZ_gOy8F:hover{color:var(--textColorHover);fill:var(--textColorHover)}._1ra1vBLrjtHjhYDZ_gOy8F:disabled,._1ra1vBLrjtHjhYDZ_gOy8F[data-disabled],._1ra1vBLrjtHjhYDZ_gOy8F[disabled]{opacity:.5;cursor:not-allowed} ._3-SW6hQX6gXK9G4FM74obr{display:inline-block;vertical-align:text-bottom;width:16px;height:16px;font-size:16px;line-height:16px} .LalRrQILNjt65y-p-QlWH{fill:var(--newRedditTheme-actionIcon);height:18px;width:18px}.LalRrQILNjt65y-p-QlWH rect{stroke:var(--newRedditTheme-metaText)}._3J2-xIxxxP9ISzeLWCOUVc{height:18px}.FyLpt0kIWG1bTDWZ8HIL1{margin-top:4px}._2ntJEAiwKXBGvxrJiqxx_2,._1SqBC7PQ5dMOdF0MhPIkA8{height:24px;vertical-align:middle;width:24px}._1SqBC7PQ5dMOdF0MhPIkA8{-ms-flex-align:center;align-items:center;display:-ms-inline-flexbox;display:inline-flex;-ms-flex-direction:row;flex-direction:row;-ms-flex-pack:center;justify-content:center} If you think you'll be leaving this employer within 1-3 years, I'd also suggest that you consider opening a rollover IRA. Anyone have insight why that might be? I've never seen a 401(k) that beats a vanguard brokerage IRA in terms of fees or investment options, even when the employer is paying the management fees. There isn't really a truly wrong answer in regard to whether to put it in your new employer's 401k or your own IRA. In my experience, most 401k plans do allow rollovers from another 401k, rollovers from an IRA are less common. I have rolled my plans into a traditional IRA as all funds are pre-tax. Please contact the moderators of this subreddit if you have any questions or concerns. ._33axOHPa8DzNnTmwzen-wO{display:block;padding:0 16px;width:100%}.isNotInButtons2020 ._33axOHPa8DzNnTmwzen-wO{font-size:14px;font-weight:700;letter-spacing:.5px;line-height:32px;text-transform:uppercase} Handling a Previous 401k You usually have a few options when it comes to handling a 401k … Also, in case this was a factor in your plan, conversions do ._3bX7W3J0lU78fp7cayvNxx{max-width:208px;text-align:center} An employer-sponsored plan, such as a 401(k) or 403(b), you can initiate a rollover—typically, when you change jobs or retire. This process works best when you have $0 balance in any Traditional IRAs. It is also a lot easier to throw a few bucks a paycheck into an Ira when it is already set up. 2. 35 of these 36 funds beat their Lipper average for the 10-year period. IE 11 is not supported. If your account has a balance of less than $1,000, your … Hey. Join our community, read the PF Wiki, and get on top of your finances! We moved all of our old accounts to Vanguard. It may even make sense to transfer Traditional IRA assets into the current employer… Vanguard accounts can be created online. I've worked for ~5 companies and rolled 4 of them into IRAs when I left. How do they compare to your new plan's fund options? ._1PeZajQI0Wm8P3B45yshR{fill:var(--newCommunityTheme-actionIcon)}._1PeZajQI0Wm8P3B45yshR._3axV0unm-cpsxoKWYwKh2x{fill:#ea0027} Tough to answer this without knowing some specifics about quantities of funds and who provides/provided each of the retirement accounts (Fidelity, Schwab, Vanguard, etc.). If the new employer's plan is attractive (e.g. There's nothing wrong with having both pre-tax and Roth retirement accounts. My current 100 employee company has Vanguard. Less of a headache, cheaper, and you will have started a relationship with a good financial company and have a frame of reference when looking at fees going forward. It is sooooo much easier to plan now. Who knows where those companies will be then or how many times they will change 401k providers during that time. Press J to jump to the feed. Are the fund options in the current plan good? Rolling over old 401ks tends to simplify things (fewer accounts rolling around to keep track of). If you get your previous employer to transfer your 401k funds to a rollover IRA, you can then set up a regular or specialized IRA account to enjoy tax benefits on your future contributions. con: every time you move money it exposes you to the inefficiency of the financial system. I just did this because there wasn't a lot of pre-tax money in the 401(k) (only the match amount) so it's not a big tax hit this year and I don't intend to withdraw the money for a few decades so I'd like to let it grow tax-free. ie, should be a single form, but might end up on the phone for 5 hours trying to get it done. A self-directed IRA is not the same thing as a traditional IRA where someone has investment authority. While retirement … ._2YJDRz5rCYQfu8YdgB_neb{overflow:hidden;position:relative}._2YJDRz5rCYQfu8YdgB_neb:before{background-image:url(https://www.redditstatic.com/desktop2x/img/reddit_pattern.png);content:"";filter:var(--newCommunityTheme-invertFilter);height:100%;position:absolute;width:100%}._37WD6iicVS6vGN0RomNTwh{padding:0 12px 12px;position:relative} If the new plan has good fund choices, this isn't a problem. I have an old 401k from my previous employer. How do these compare to your new 401k? If you do cash out your account, the employer is required to withhold 20 percent of the … While you can't directly take out a loan from your old employer's 401 (k), there may be other ways of borrowing or accessing your money without facing a penalty. When you roll over retirement plan assets, you're moving them from a group plan … If the new employer's plan is attractive (e.g. I like to roll them into an IRA that I control, and where I choose, and where I know how to get my money out. I'm facing a similar challenge currently, but being very close to the Roth IRA income limits I don't want to hurt my ability to make backdoor Roth IRA contributions so I'm planning on leaving my 401(k) with my former employer's very mediocre plan for the time being. I rolled mine over into Vanguard. Am I crazy/wrong for wanting to convert this fund into Roth, as opposed to leaving them and starting a new Roth from $0? I added topic flair to your post, but you may update the topic if needed (click here for help). TO break down my accounts (with balances; all accounts are default allocations I believe): T. Rowe Price - $630 (temp job and was able to contribute for a few months, employer only contribution), Eaton Vance Large-Cap Value R (ERSTX) - 44.47%, Davis New York Venture R (NYVRX) - 31.03%, Federated Total Return Bond R (FTRKX) - 10.07%, My current plan is through Ubiquity and is 100% allocated to the Vanguard Target Retirement 2050 Inv fund. … If your plan offers excellent fund choices with lower fees than their retail … Cons: Primary factor to consider is around your need (now or potentially in the future) of doing "backdoor Roth" contributions for retirement savings above what you can do in your 401k. So you need to ask whether your employer offers these provisions in your 401(k) plan. It makes it easier to track and keep my asset allocations balanced. My current 401k is with TransAmerica. Depends on the fees and investing options at your old place compared to the new one. Roll over your 401(k) to a new employer's plan. good lineup of Vanguard index funds), I generally favor consolidating former plans into the current 401k. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. Anyone have insight why that might be? easy to see total savings. It may even make sense to transfer Traditional IRA assets into the current employer's plan, if such transfers are allowed by the plan. I added the current 401 allocation and fund to the OP. im still on the fence if I care enough to roll over. I've tried doing some research but I'm still confused about the pros and cons of leaving the money in those old 401k accounts versus rolling them over into my new 401k or an IRA. I'm in this dilemma to. How do you determine need to do a backdoor? If you will have a 401k setup are new job, talk to the investment company to get the prior ones rolled over. What funds are available in the old 401ks? Any advice or links to good sources would be appreciated. .s5ap8yh1b4ZfwxvHizW3f{color:var(--newCommunityTheme-metaText);padding-top:5px}.s5ap8yh1b4ZfwxvHizW3f._19JhaP1slDQqu2XgT3vVS0{color:#ea0027} 3. (Might rollover to my new employer, but I'm not eligible to participate for a full year of employment.). Any match contributions will definitely rollover to Traditional. Between my wife and I we had about 6 different accounts from years of moving jobs. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Good luck! The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. If they do not offer very low cost funds (.15 and lower) there is basically no reason to roll this into the current employer's plan. Semi-unrelated: I don't contribute to my current employer's plan anymore because they don't match and I'm building an emergency fund ATM). Option 2: Rollover the old balances into your new employer's 401k. The only fee I was made aware of is $150 distribution fee as long as it’s going into a rollover at Fidelity. Are they no-fee, low expense index funds? /*# sourceMappingURL=https://www.redditstatic.com/desktop2x/chunkCSS/TopicLinksContainer.361933014be843c79476.css.map*/._2ppRhKEnnVueVHY_G-Ursy{-ms-flex-align:center;align-items:center;display:-ms-flexbox;display:flex;margin:22px 0 0;min-height:200px;overflow:hidden;position:relative}._2KLA5wMaJBHg0K2z1q0ci_{margin:0 -7px -8px}._1zdLtEEpuWI_Pnujn1lMF2{bottom:0;position:absolute;right:52px}._3s18OZ_KPHs2Ei416c7Q1l{margin:0 0 22px;position:relative}.LJjFa8EhquYX8xsTnb9n-{filter:grayscale(40%);position:absolute;top:11px}._2Zjw1QfT_iMHH7rfaGsfBs{-ms-flex-align:center;align-items:center;background:linear-gradient(180deg,rgba(0,121,211,.24),rgba(0,121,211,.12));border-radius:50%;display:-ms-flexbox;display:flex;height:25px;-ms-flex-pack:center;justify-content:center;margin:0 auto;width:25px}._2gaJVJ6_j7vwKV945EABN9{background-color:var(--newCommunityTheme-button);border-radius:50%;height:15px;width:15px;z-index:1} They have good investment choices and easy to use. That does mean that you have to select a good company to host your personal IRA (like Vanguard) and that you use it in a way that minimizes fees charged against you (as with buying vanguard index funds). I can't do any additional pre-tax contributions, so these funds are sitting there at about $35k. Do they match up with Schwab/Fidelity/Vanguard in terms of expense ratios? You can also roll them separately into an IRA. Press question mark to learn the rest of the keyboard shortcuts. Whether you're leaving involuntarily, quitting to start a new job, or simply foresee yourself switching jobs several times in the next few years, it's important to know what you're going to do with your (soon-to-be) former employer's retirement savings plan (e.g., 401(k… Instead of just leaving money with your old employer, you can move it into an IRA that you control. So even if you did move forward with converting some/all of that Traditional balance, you'd still be able to make a $6000 contribution into your Roth IRA (assuming you're under the IRS's income limits). Unless there are weird exceptions, I'm pretty sure all 401k plans can hold pre-tax dollars, even when all of your contributions are Roth. .ehsOqYO6dxn_Pf9Dzwu37{margin-top:0;overflow:visible}._2pFdCpgBihIaYh9DSMWBIu{height:24px}._2pFdCpgBihIaYh9DSMWBIu.uMPgOFYlCc5uvpa2Lbteu{border-radius:2px}._2pFdCpgBihIaYh9DSMWBIu.uMPgOFYlCc5uvpa2Lbteu:focus,._2pFdCpgBihIaYh9DSMWBIu.uMPgOFYlCc5uvpa2Lbteu:hover{background-color:var(--newRedditTheme-navIconFaded10);outline:none}._38GxRFSqSC-Z2VLi5Xzkjy{color:var(--newCommunityTheme-actionIcon)}._2DO72U0b_6CUw3msKGrnnT{border-top:none;color:var(--newCommunityTheme-metaText);cursor:pointer;padding:8px 16px 8px 8px;text-transform:none}._2DO72U0b_6CUw3msKGrnnT:hover{background-color:#0079d3;border:none;color:var(--newCommunityTheme-body);fill:var(--newCommunityTheme-body)} dont have to deal with multiple companies at retirement. Again, account consolidation simplifies tracking and management. Usually (but not always) these options are equal or better than what's in a 401k plan. Having both can actually provide some flexibility once you hit retirement, since withdrawals from Traditional accounts "fill up" tax brackets from the bottom up, which can mean that it can come out of the account at a lower tax rate than it went in. If your balance is less than $1,000, your employer can cut you a check. ._3gbb_EMFXxTYrxDZ2kusIp{margin-bottom:24px;text-transform:uppercase;width:100%}._3gbb_EMFXxTYrxDZ2kusIp:last-child{margin-bottom:10px} Option 3: Rollover your old 401k balances into an IRA, would likely all go into a Traditional, but part may go into a Roth IRA if you had made Roth 401k contributions. If you have money in a 401(k) from a previous employer, you can withdraw it, but you’ll have to pay income taxes plus a 10% penalty. Word of Caution Before you withdraw money from a 401k or roll it into an IRA make sure to check for employer … This is a no brainier to consolidate it to an IRA with vanguard or fidelity. Only about 15% of it is Roth. Rollover would require me to only have crappy options. You likely want to consolidate into an IRA. Without getting additional matching, there is no reason to remain in the higher fee structure. The recommended brokerages for an IRA (Vanguard, Fidelity, Schwab) have low or no account fees. My current 401 is Roth with Fidelity. Cons: More things to keep track of and manage. 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