Whenever you leave a job that had a 401k benefit — whether you retired, quit or were fired — you have a decision to make about your 401k plan. The IRS allows you to make a tax-free 401k rollover into another employer-qualified retirement plan or into an Individual Retirement Account (IRA.) Typically, most people will initiate a 401k rollover to a Traditional or Roth IRA. The 401k rollover to IRA, sometimes called a 401k IRA rollover or 401k to Rollover IRA, is a common move people make when they leave their job.
The process begins with your previous employer. They will have…
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