401K rollover question
I have three 401K’s from prior jobs which are still being held by prior employers.
I would like to combine them and get them out of companies I am no longer associated with.
Is it more advisable to transfer the 401k’s to current employer 401K plan or rollover to an IRA. I do not anticipate doing any Roth back door IRA’s .
Thank you
Mike
Permalink Submitted by Alan - IRA critic on Mon, 2024-05-13 23:11
It depends on variables such as the current 401k expenses, investment options, and flexibility such as access to the rollover account balances while still in service and under 59.5. Another variable is the back door Roth as you indicated, and if you live in a state without good IRA creditor protection, you may will to keep the assets in a 401k with ERISA protection.