How good is your 401(k)?

Dear Liz: I just turned 65 and have left my job for a part-time position. My 401(k) is being transferred to a new investment company that I’ve never heard about before. Their fees seem to be lower. Is there a website where I can compare different firms?

Answer: There is. BrightScope at http://www.brightscope.com analyzes and rates the 401(k) plans of more than 46,000 companies. The ratings take into account total plan cost, investment options and the company match, among other factors. You find the ratings by entering the name of your employer, rather than that of the 401(k) manager.

If you investigate and decide you’re not comfortable with the new investment manager, you should have the option of rolling your account into an IRA, since you’ve left your old job.

No 401(k)? Set up transfers to IRA Dear Liz: I started a new job, but unfortunately it does not offer a 401(k). I have an IRA but don't contribute to it. What is the best […]
Q&A: Coronavirus aid law lets you more easily tap retirement savings. That doesn’t mean you should Dear Liz: You recently mentioned that a person can withdraw money from their 401(k) and spread the taxes over three years. If 401(k) is […]
Q&A: When savings are meager, it might be time to unretire Dear Liz: I’m 67, retired and have $83,000 in a 401(k) that I left with my employer. Should I see a certified financial planner? Based on […]
Q&A: How to make retirement saving a priority Dear Liz: One thing I like about saving for retirement with an IRA is that I can wait until April 15 of the following year and then just […]

Related Posts

Search