Author Topic: What happens to my 401(k) from a former employer if they change providers?  (Read 1078 times)

Monocle Money Mouth

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I'm getting laid off at the end of they end of the year and trying to figure out if I should leave my 401(k) where it is or roll it over to an IRA.

All of my investments including my 401(k) are at Vanguard. I don't have any problems with my 401(k) or the funds provided.

My concern is that my employer is cutting costs everywhere it can. I suspect at some point they might switch 401(k) providers to cut costs further. If my employer switches 401(k) providers after I'm laid off, will my money go to the new provider too or will it stay at Vanguard?

I tried the Google machine, but I couldn't find an answer for this scenario.

cupcakery

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This happened to my husband.  He had a 401k at a previous employer.  They switched providers.  We were kicked out of the plan.  We had a choice of rolling it over to a plan with his new employer or converting it.  We rolled it over.

Monocle Money Mouth

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Thanks cupcakery! That's exactly the type of information I was trying to find.

I'll let it sit until any changes happen. If they do change providers, I'll convert it to an IRA at Vanguard.

Scandium

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Yes like previous post that's what happened to me. Old employer changed provide twice, until I got sick of keeping up with it and rolled it to a Vanguard IRA. Only drawback is I can't do a backdoor roth anymore.

 

Wow, a phone plan for fifteen bucks!