Rollover 401k and HSA

[muskrat]

I am changing jobs and moving to a new company.  I have a 401k and an HSA with the old company.  Does anyone have a recommendation as to where I should move these?  The 401k is currently with Merrill Lynch and the choices aren't bad but I think there are better options out there.

[secondcor521]

For the HSA I would recommend Fidelity.

For the 401(k), I would recommend one of Fidelity, Schwab, or Vanguard.  If you have any other accounts with any of those and like them, then I'd move the 401(k) to the same place just for simplicity's sake.

[ATtiny85]

For the 401k, I recommend checking with your new 401k plan to see if they allow rollovers into the plan. It will be useful to know prior to making a decision.

You could leave it (sometimes good due to investment options and maybe asset protection)
You could roll it over to an IRA anywhere (as mentioned going someplace you have accounts might be good)
You could roll it over into new 401k plan if allowed (makes backdoor Roth possible/better, but if the new plan has bad investment options it get more complicated)

[NoEllipsis]

From my experience most company 401k plans give you options for some general index funds. Usually there's something like S&P500 or something close. Some international fund, some Small/Mid/Large cap funds, and a basket of various target date funds. I also usually find the fees on them to be higher than if I choose my own fund at the brokerage of my choice. Everyone always mentions Vanguard VTSAX here, and Fidelity has FZROX which are either no fees or so low of fees that they are truly negligible.

For me that eliminates keeping the 401k with the old employer or moving it to my new employer since self directed I can find better indexing choices.

I try not to have too many different accounts all over the place to I would move it to a rollover IRA at the brokerage you prefer.

In the rare case your new/old company has the extremely low/no fee indexing options then perhaps keeping it with them isn't the worst idea. Just keep in mind that companies will change up their 401k plans from time to time and you will have no option but to roll with whatever changes they decide to implement. My old company changed their plan multiple times over the 8 years I was there, new brokerage, new options, etc, etc. Each time I had to re-visit all the generic indexing options they felt like offering for what I felt was my best option of what was available.

[MDM]

Yes to "move the HSA to Fidelity".

For the 401k, it depends on
1) Do you anticipate wanting to use the backdoor Roth process? 
2) What are the fees for your desired investments in the old and new 401k?

If yes to #1, you'll want to leave the money in the 401k with the lower fees, if those 401k fees are comparable to what you would pay in an IRA.

If no to #1 or both the old and new 401k fees are atrocious, moving to an IRA at any the brokerages mentioned is probably best.

[muskrat]

1.  I have been using the mega back door conversions on my old 401k.  I need to find out if this is an option with the new company.  At this point all after tax money has been converted to the Roth 401k portion of the account but I haven't researched how that will roll over.

[MDM]

"Backdoor Roth" applies to IRA contributions.

"Mega-backdoor Roth" applies to 401k /403b contributions.