Harness Money

To roll over your old 401(k), you can either transfer the funds directly from one plan to another or receive a check and deposit it to the new plan within 60 days.

The direct rollover is the easiest and most tax-efficient option. You need to contact the plan administrators at your old and new jobs and provide them with the account information.

Alternatively, you can roll over your 401(k) into an IRA, which gives you more control and investment options but may have tax consequences. A traditional IRA account does not cause a taxable event, while a Roth IRA account does.

Here are some steps you can follow to roll over your old 401(k):

1. Contact your current plan administrator and new plan administrator.
2. Choose between a direct rollover or an indirect rollover.
3. Fill out any necessary paperwork.
4. Wait for the transfer to complete.

Please note that there are some restrictions on rolling over your old 401(k), so it’s important to check with your plan administrator before making any decisions.