You have decided to leave your current position for a new job, and you have an...

 

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You have decided to leave your current position for a new job, and you have an $18,500 vested balance in your current employer's retirement plan. In this situation, discuss what you would choose to do with your currently vested balance - leave it in the current plan, roll it over to your new employer's plan, take a cash distribution, or roll it into an IRA. You can assume your current age, i.e. that it would be subject to a penalty given that you are less than 59 %. Include in your discussion at least two reasons that you made the choice you did, and at least one reason you would have considered a different option. (15 points) You have decided to leave your current position for a new job, and you have an $18,500 vested balance in your current employer's retirement plan. In this situation, discuss what you would choose to do with your currently vested balance - leave it in the current plan, roll it over to your new employer's plan, take a cash distribution, or roll it into an IRA. You can assume your current age, i.e. that it would be subject to a penalty given that you are less than 59 %. Include in your discussion at least two reasons that you made the choice you did, and at least one reason you would have considered a different option. (15 points)

Answer rating: 100% (QA)

I would choose to roll my vested balance of 18500 into an IRA Individual Retirement Account There ar... View the full answer