Quote:
Originally Posted by DaFace
As others said, it's still a 401k. They probably just change the title in your account to reflect that it's no longer associated with your previous employer.
You can either just leave it alone or roll it over to a different type of retirement account. I'd be a little cautious about continuing to contribute to it without talking to T. Rowe Price about it, though. I'm not sure what the contribution rules are for an orphaned account like that.
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I will speak to a rep to be sure, but just to clarify my situation a bit more: it's apparently got a $6000/year limit on contributions. So my dumbass contributed the max $6000 for the years of 2020 and 2021 (or maybe 2019 and 2020, idk). I contributed that money directly from my linked bank account so it's definitely post-tax. If I'm understanding correctly, I will have already paid taxes on that money as it was previously earned and then they will tax it when I withdraw it upon retirement. That's some bullshit.