Rolling over a 401(k) to an IRA seems to be a retirement rite of passage, next to attending the farewell lunch and handing in your company identification badge. But if you have $5,000 or more in a 401(k), there’s no law that you must move it when you leave your company. Your plan may let you keep your money there indefinitely. You can even arrange for required minimum distributions starting at age 70½, the same as with an IRA.
Financial advisers, though, offer plenty of reasons for setting up IRAs, but sometimes there are reasons for sitting tight in a 401(k). Here are questions to consider:
