Company changing hands, 401k question
Hello, our company will be changing hands and Apr 22 will be the last of our contributions to our current 401k. The beginning of May is the anticipated deal closing date. Aug 1 we will be come eligible to enroll in the new company’s plan. What should I do with the money in my current plan which is about to be distributed?
Thank you,
Terry Says
Immediately contact Fidelity or Vanguard an initiate a ROLLOVER! Do this before the company is sold as it only takes a minute to get this done. But first tell your HR department of your plan. It may be that they have arranged an automatic roll into the new company’s plan. And if you are still working for the “same” company you may not be allowed to do a rollover.
