401k Transfer to New Employer’s Plan

Transfer the old 401k to a traditional IRA.

Roth 401k is usually best choice if you have that option.

What's the new company Match?

I'd highly recommend transferring into a Traditional IRA, gives you more control of investment options, etc.

Company matches 6%.

So transfer old 401k balance to transitional IRA, then use Roth 401k for current employer retirement account?

Most all use Vanguard or Fidelity. I use Fidelity and love it but you can’t really go wrong with either.

It's a balancing act, and a lot depends on your current income and future income expectations.

quote:

---

Anyone have any suggestions on which traditional ira company to transfer the old 401K to?

---

for simplicity's sake, i'd probably keep it with the company you currently have it with, assuming they offer IRA's and are reputable

option 2 would be to transfer to IRA at whatever firm your current employer uses, with the same caveats above

quote:

---

My existing 401k is with fidelity. I also have a vanguard account with a Roth IRA, but my income combined with wife’s income is more than the limit allows.

---

That's great. That'll make it simple, I'd just keep it with fidelity

quote:

---

Should I consider backdoor to this existing Roth IRA?

---

Consider? Absolutely. But be aware of the tax implications.

Thanks for the suggestions

Two main things I tell people to look at -

1. Your rollover into the new company's plan may not be available to you in a rainy day. There is no requirement the new company allow you to withdraw that rollover until you have a distributal event - which can be when you leave the company. I would check with HR on that and/or read the SPD.

2. A lot of times you can get a cheaper rate by doing it as an IRA. But not always. So I would carefully look at the fee disclosure for the new plan and see what the total fees are. Compare that to your IRA options.