401k rollovers

Move your existing retirement savings to another 401k

As an expat in the US, a 401k may form part of your retirement savings plan. These qualified retirement plans are sponsored by an employer. The default choice is often to leave a 401k where it is. 

However, since each 401k plan is run by the company who sponsors it, they decide which investment options are available and you may get access to a wider choice of investment elsewhere.

A 401k rollover allows you to move your existing retirement savings without incurring any tax or penalty payments to your new employer’s plan.

Consider an individual retirement account

Alternatively, you can opt to transfer your savings into an individual retirement account (IRA). With an IRA you can enjoy more investment choice and can choose from a wider range of investments than you potentially can have through an employer-sponsored 401k.

An IRA also allows you an entire view of your retirement savings by consolidating your retirement accounts. Because everything is in one place, it's easier to manage your accounts and monitor your progress as you save towards your retirement.

Deciding what to do with your 401k can be daunting. Talk to one of our retirement advisers to discuss your situation in detail. They will help you explore all your options and establish if it is in your best interests to pursue a 401k rollover.

There are advantages as well as disadvantages to transferring a 401k or work place retirement plan that must be considered. A transfer is not suitable for everyone and will involve additional costs. No promises or guarantees of investment performance are offered.
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