What to Do With Your 401(k) If You've Been Laid Off
If you are laid off from a job, you're likely to face a variety of tough questions. But in the scramble to find a new job, manage your finances, and figure out your insurance, it's easy to overlook the decision regarding your employer-based retirement plan.
Here, we'll go over your options if you have this unfortunate event happen to you.
Unless your retirement savings balance is low (less than $1,000), there's a good chance your former employer will allow you to keep your 401(k) plan as it is. If the plan has adequate investment options with reasonable fees, this can be an acceptable choice.
Source Fool.com
