Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. when changing jobs, the preferred way of handling

When changing jobs, the preferred way of handling your 401K account balance with your old...

50.1K

Verified Solution

Question

Finance

When changing jobs, the preferred way of handling your 401K account balance with your old employer is to:

a) Convert your account balance with your old employer to cash and use it to pay off your mortgage balance.

b) Have the 401k service provider at your new place of employment arrange to have your old account balance placed in an account at your new employers 401K plan in what is known as a provider to provider rollover.

c) Have your old employer write a check to you for your account balance with your old employer so that you can deposit that check with your new employer.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Explain to Matt why it is more important to improve the quality (type) of fat he...

Medical Sciences
Q

Explain what social psychologists mean by culture and how is it broader than most average people...

Psychology
Q

Gerbil species G alenbyi and G pyramidum in Israel coexist by OA Indirect competition OB...

Biology
Q

A tuning fork of frequency 330 Hz resonates with an air column of length 120...

Physics
Q

Given A and B are input terminals Logic 1 5V Logic 0 1V Which logic...

Physics
Q

10What is BD A 2 5 B 4 5 8 D 10 4 A4 D...

Geometry
Q

Question Write the following system of equations as a single matrix equation 9x 8y 5z...

Calculus
Q

Considering only the values of for which sec B 1 cos 1 cos B is...

Calculus
Q

Chibucos Company has two products: A and B. The annual production and sales level of...

Accounting
Q

Santana Rey is considering the purchase of equipment for Business Solutions that would allow the...

Accounting
Q

Current Attempt in Progress Given the accounting equation, answer each of the following questions. (a)...

Accounting
Q

Mortar Corporation acquired 80 percent of Granite Corporation's voting common stock on January 1, 20X7....

Accounting