There are always costs rolled into bank offers! I don’t know the specifics of this choice given to you by your company, but personally I would call Fidelity or Vanguard and do the DIRECT IRA rollover. They are always low cost providers. THEN, you must make some investment decisions.
They may refer you to an advisor who uses their funds, but beware of the additional costs. I would just diversify that IRA rollover between conservative choices like a balanced fund, an equity-income fund, and keep some in a money market fund — because you will need cash for RMDs in a few years.
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