I'm at Microsoft but will likely move very soon. What happens to my 401k and other long-term benefit plans (such as HSA) when I move? Do I have to maintain two separate accounts or is it possible to move all the funds from the old ones to the new employer's plan?
Both options are allowed. Depends on how you want to be invested.
Thanks. Do you know if any pros or cons of unifying the accounts vs. keeping separate ones?
The other company is Google so you should have a good idea :)
401k remains the same, HSA balance can still be used until depletion even if your new employer doesn't offer hsa
I chose to roll-over. Much easier to manage it in just one place
If you keep an inactive 401k (ie old employer) you have a lot of flexibility. You can rollover to be employer, open your own self managed 401k, and u can even take partial withdrawal if needed, u will pay the penalty, but $ is easier to take out
You can turn it into an ira or even better Roth IRA
Best thing to do is to move your money to IRA as soon as possible.
Rollover ira
Everyone keeps mentioning IRA. What is an IRA and how is it different from 401k?
http://lmgtfy.com/?q=What+is+the+difference+between+401k+%26+ira
I like to have my money in a few different places. Stuff happens.
Yes💤💤
Yes to which option?
Your choice