{ "media_type": "text", "post_content": "Just joined D and looking at rollover options from old 401k. Are there any arguments against rolling over and leaving the old 401k as is? ", "post_id": "59e50c17c27e9900178a1f3d", "reply_count": 11, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Just joined D and looking at rollover options from old 401k. Are there any arguments against rolling over and leaving the old 401k as is?

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Don't do it. Crazy conflict restrictions will make you wish you didn't. And depending on your level you may not be allowed to (my spouse couldn't even keep his). The one thing I REALLY hate about the Big D.

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Roll it into an IRA, not another 401k. Much more freedom.

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Oh God the restrictions though you will have to report everything

Also it might charge you fees without rolling over.

Ey1 what do you mean? Old 401k is with fidelity

Possible individual plans have a fee that kick in after you are no longer employed

I’m keeping my old 401k at vanguard until I’m forced to move it 👀

Just move it to a rollover IRA.

I converted my entire portfolio from the standard plan at my old firm to 100% in S&P500, then moved it over to Deloitte’s equivalent. No issues. In fact, with one of the recent updates, I actually made a decent chunk of $.

You will likely not be able to keep your 401k with fidelity depending on your level/location due to independence restrictions. Speaking from personal experience.

^ exactly, you may not even be allowed to keep it. KPMG now requires managers/above (maybe everyone?) to roll over other 401k accounts due to Independence. So stupid but here we are

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