When You Leave an Employer, Your Options with Your 401(k)

question 48

Multiple Choice

When you leave an employer, your options with your 401(k) are all of the following, except

• A) leave it with your former employer.
• B) transfer it to your new employer.
• C) transfer it to a rollover IRA.
• D) withdraw it with no tax penalty if done in 90 days.

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Definitions:

Actively Take Steps

The process of making conscious decisions to move forward with actions that contribute to achieving a particular goal or outcome.

Generating Ideas

The process of coming up with new, innovative concepts, solutions, or approaches, often as part of a creative or problem-solving exercise.

Roadblocks

Obstacles or barriers that impede progress towards achieving a goal or completing a task.

Natural Reward Strategy

A method of motivating behavior by incorporating inherently rewarding or satisfying aspects into tasks or activities.