2007-09-19 05:04:14 · 5 answers · asked by Dee 1 in Business & Finance ➔ Personal Finance
It will either wait for you, or you can transfer it to a rollover IRA account.
2007-09-19 05:08:08 · answer #1 · answered by Feeling Mutual 7 · 0⤊ 0⤋
The account is in your name, so the money just stays in that account and earns interest until you do something with it. Neither you or the employer add any more money to it after you leave.
Once you get a new job and new 401k, it's usually recommended that you "rollover" the old account to your new plan. Or you can roll it over to an IRA at a bank or financial institution, but then there are different rules about how much you can add to it.
2007-09-19 05:14:27 · answer #2 · answered by teresathegreat 7 · 0⤊ 0⤋
It is still your money and it will just be sitting until you get another job that offers a 401K plan and then you may transfer funds into the new one.
2007-09-19 05:12:15 · answer #3 · answered by Anonymous · 0⤊ 0⤋
it stays in the 401K regardless if you have another job or not. The company will not do any matching since you are not an employee anymore, but it will stay there.
2007-09-19 05:11:42 · answer #4 · answered by thunder2sys 7 · 0⤊ 0⤋
Nothing. It continues to by yours and continues to grow if you have good investments.
You should consider an IRA rollover. You transfer the money to any investment you want and it costs you nothing.
2007-09-19 05:08:34 · answer #5 · answered by regerugged 7 · 0⤊ 0⤋