Have a 401(k) Balance Under $7,000? Watch for This If You Leave Your Job
Most people think their 401(k) is theirs and that's all there is to it, but the reality is a little more complicated than that. The money is yours, but the plan belongs to your employer, and both of you have to abide by the federal government's rules for 401(k) accounts.
This can make some 401(k) decisions a little complicated, including what happens with your funds after you leave the company. If you have less than $7,000 in your balance at the time, you may want to take swift action to keep your money under your control. Here's what you need to know.
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Source Fool.com
