Thriftism

The process of leaving or separating from your previous employer is wrought with complexities and important decisions that can have major impacts down the road. Add to this the emotional baggage that may come from an involuntary departure and the situation can become overwhelming. I hope to make one of these components, 401k rollovers or retirement rollovers, a bit simpler with some basic advice based on my experience during this transaction.   Rules and Regulations It is important to understand the rules and regulation surrounding company sponsored retirement plans. As a general rule the IRS allows 60 days for you to rollover or transfer your retirement to an individual account (IRA) or even into another company's (your new employer) retirement plan. What happens after 60 days will vary by company, but will typically involve additional costs or tax penalties depending on the retirement account. My Experience For me, after 60 days, my company would allow my retirement fun...

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