{ "media_type": "text", "post_content": "Has anyone had experience adding their old employers 401k account to their new employers 401k? Is this a pretty standard thing?", "post_id": "5f0d062b21ea820020c3755e", "reply_count": 7, "vote_count": 2, "bowl_id": "564a5cdb94887803001dd07c", "bowl_name": "Accounting" }

Has anyone had experience adding their old employers 401k account to their new employers 401k? Is this a pretty standard thing?

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Yes and it is extremely common. It’s called a rollover distribution and a non taxable event so long as the old custodian transfers to the new custodian for the benefit of you

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Yeah pretty easy. My old company TPA made it harder than necessary. Overall not bad and 401k has started to pick up now

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I was a young guy moving between consulting firms and admittedly had no idea what I was doing, but I was able to follow the instructions from my current 401k provider. They made it really simple to request a check addressed to the new 401k provider (mauled to my home address) and then I mailed it out addressed to Merrill lynch and everything was done in like 60 or 90 days

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I rolled to an IRA for lower fees. I’m a contribute and forget it investor (pick things that I don’t feel the need to monitor, but grow consistently). SUPER easy to do. Called up old provider, confirmed I was doing a rollover, and everything was seem less.

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I’d roll it to an IRA. You will have more investment options than any 401k.

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Yes, pretty easy to do. Main hiccups are if you had a Roth 401k at the former and the new plan doesn't have that option. You don't HAVE to move it if you have more than $5k. You can leave it sit for diversification and a balance that can be pulled from in an emergency without having a qualifying reason to pull from the current employer's plan. But having the rollover also increases the balance that can support a 401k plan loan if that is something you want/need to do later.

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