I left IBM almost one year ago. My 401k is in Fidelity. Do I have to do anything? Does it just chill there?

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It’ll be in whatever investments you had them in.

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1) you don't have to do anything, you can let it chill there, never even think about IBM ever again and that money and account will still be yours to pull from when you're 60

2) what I did when I left IBM is make a new fidelity rollover IRA account. Call fidelity and tell them you want to transfer your IBM money to your new account. This process is SUPER easy and Fidelity's customer service is really good

likesmart

One caution on rolling over to a tIRA....

If you use (or plan to use in the future) the backdoor Roth IRA you may want to reconsider.

If you move to a tIRA, your future backdoor contributions will be subject to the pro rata rule... depending on how much you are rolling from 401k, this could have tax consequences.

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Sometimes they will kick you out of the plan if your balance is low < $5000

Then you just convert it

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