Whether you are setting up a 401(k) plan for your business or already have one in place, it is helpful to understand the various service providers needed to run a retirement plan. Here are the major service providers you will likely deal with on your plan.
Three Reasons to Combine Old 401k and IRA Accounts
It is not uncommon to have multiple 401(k) accounts after switching jobs several times over a career. According to a Fidelity survey, almost a third of people who transitioned jobs were not sure what to do with their old 401(k) or 403(b).1 Changing jobs is a busy time so thinking about what to do with your old 401(k) is often not a priority. If you are among the many busy people who have multiple retirement accounts at different firms, this post is for you.