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Expert Advice
  • Review the plan's        distribution options.
  • Ask your new employer about rollover plans or IRAs.
  • Be disciplined and consider investing more income on your retirement plan.
  • Determine if your retirement savings plan is on track.
New Job: A Great Time to Update Your Retirement Plan

Congratulations! You're moving up in the world with a challenging new job. While you're busy updating your business cards to reflect your new position and title, don't forget to update your retirement plan as well.

If you were enrolled in your former employer's sponsored retirement plan, make sure to review the plan's distribution options to determine if you need to take a distribution. Ask about rolling over the assets from your former employer's retirement plan into your new employer's plan or IRA.

If your new job affords you a larger paycheck, consider investing most, or even all, of the difference in your retirement plan.

Determine if your retirement savings plan is on track. Question whether your investments are still helping you reach your long-term financial goals or if it is time to change those goals, strategies and/or investments.