A. Once your employment ends, you have four options for your company-sponsored retirement assets:
1) Leave the money in your former employer's plan;
2) Roll the funds into a new employer's plan (assuming you continue to work);
3) Transfer the assets into an IRA account; or
4) Cash out the balance, paying the applicable taxes and penalties (which depend on your age and circumstances).
How to determine which is your best option? See our next blogpost.