Before you do anything, investigate your options. For example, at the end of this year I will vest in a cash balance pension worth 35 or 40k, a fairly piddling amount. The pension payout will be small when I am eligible to flip the switch and start getting payments. However, my employer allows me to use 401k money to buy additional pension credit once I start receiving payments. So this gives me the option of buying inflation-adjusted payout annuities with no carrier risk. Since the 401k is fairly well run and expenses are low, I have no plan to move the pension money and give up the option of buying an annuity I could not get on the open market.