{ "media_type": "text", "post_content": "Anyone have experience with 401k rollovers? Leaving Accenture for Deloitte and it seems like I need to rollover my 401k into an IRA with a brokerage account? Do I do this after I leave the company?", "post_id": "61099a1411443a0024e98f1f", "reply_count": 7, "vote_count": 4, "bowl_id": "58f0df008ad7250010f8c590", "bowl_name": "Compensation" }

Anyone have experience with 401k rollovers? Leaving Accenture for Deloitte and it seems like I need to rollover my 401k into an IRA with a brokerage account? Do I do this after I leave the company?

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See if you can take it straight to Deloitte. With ACN, you should be able to keep it in ACN as a non-employee. Small fee annually, but see what Deloitte offers. Your Deloitte match will drop quite a bit, too, so hope the comp makes up for it! I may follow you.

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Yes, I would wait to rollover until after starting at D. Make sure you update Alight with your personal email so you can log in (I think there are instructions on how to do this when leaving Accenture on an internal how to leave Accenture checklist). Make sure to transfer funds directly from ACN 401k to D 401k without receiving a personal check to avoid tax penalties.

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Yes, it happens after you leave. Roll it over to a brokerage of your choice to maximize investment options. I’d recommend Vanguard or Fidelity.

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401k to 401k or leave it where it is is best if you want to do backdoor Roth in the future. Having post tax money in an IRA will limit backdoor Roth ability (pro rata rule)

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I just finished this process after almost 2 months, it can be such a pain. I’d second the advice to have the first company send the check directly to the second, however if you do end up getting the check yourself you can still upload it as long as you do it quickly and there won’t be tax implications. I went to Fidelity as I knew it well anyway and you have lots of control over exactly where the money goes.

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Check out bank of America’s preferred rewards program. I’d roll it over there and manage it yourself.

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Yes this is fairly typical. I would wait and make sure they have fully paid you out so if anything gets routed to it you don’t have to roll over twice. Also one more thing to be careful of make sure you separate Roth and Traditional funds. Even if you contribute all Roth the matching funds from your employer are traditional.

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