Quote:
Originally Posted by MTG#10
Ugh. So what are my other options if any? Can I just leave it alone and let it continue to grow based on whatever the market does without adding anything for a year then roll it over to the new company's 401k? I guess I could take out what I would be deducting and put it in my personal Roth instead. This shit is stressful, we've bought out multiple companies since I've been there but I've never been part of a company that was bought out by someone else.
|
Depends on the rules. Typically you can leave it in there. Sometimes there are investment minimums, it all just depends on the company.
A traditional IRA will have similar rules, and you can deduct the contributions (6,000 annual limit, much lower than a 401K).
The simplest is probably leave the money where its at and donate to your roth. But you don't get to deduct contributions (if you're needing that or if it even matters)
Second simplist is open a Traditional and roll it there and put your contributions there.
Toughest is rolling it to a Roth.