What to do with an old 401(k)
Have an old 401(k) from a former employer? We can help you weigh your options so you can make the right decision for your specific needs.
Four options regarding your old 401(k)
- Roll over to a Fidelity IRA
Roll over to Fidelity and consolidate your retirement accounts in one place while continuing tax-deferred growth potential.1 You'll get a wide range of investment options including $0 commissions for online US stock trades.*
Roll over to Fidelity now
- Roll over to a new workplace plan
If allowed, this option lets you consolidate your 401(k)s into one account while continuing tax-deferred growth potential. Investment options vary by plan.2
- Stay in your old workplace plan
If permitted, this option lets you continue tax-deferred growth potential; however, you can no longer contribute to the old plan. Investment options vary by plan.
- Cash out
If you withdraw the money from your 401(k) plan, your cash distribution will be subject to state and federal taxes and, before age 59½, a 10% withdrawal penalty may apply.3 Also, your money won't have the potential to continue to grow tax-deferred.