The company I work for has been recently acquired and in the next month or two everyone will be transitioned to their benefits. I have mixed feelings about this, health care is cheaper for comparable coverage but my 401k situation is much worse. I am currently matched 80% up to 5% of my contributions and the plan options have treated me well. The new plan has no match and I am disappointed with my investment options.
My understanding of the conversion process is that my current 401k balance will be transitioned to their provider and then I can contribute to that plan in the future but this is subject to change (just like everything else they tell us). Is there an option to take my full balance and move it into an IRA instead? Is this governed by law or would the answer lie in the specifics of my 401k plan?
Thank you so much!
Submitted April 29, 2017 at 09:51AM by mdds2 http://ift.tt/2qiH4Pq
