Retirement plan distributions – Options if you lose your job by Robert A. Kieckhefer, financial consultant with The Kieckhefer Group, a Milwaukee office of RBC Wealth Management.
If you quit or lose your job, you have many decisions to make. One of these decisions is deciding what to do with the assets you’ve accumulated in your 401(k) account. Whether you were with your employer for a few years, or for decades, the decision you make will play a critical role in determining the course of your financial future.
You can essentially do two things with the assets in your retirement plan: allow them to continue growing tax-deferred, or take a distribution. These options can lead to very different outcomes, so you’ll want to weigh the advantages and disadvantages of each before making your choice.
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