How to Roll over your 401k

Rolling over your 401(k) into another 401(K) at another job simply involves filling in some paperwork. It’s pretty simple. If you are leaving your job and/or retiring, the paperwork can be a little more complex. When I retired, I wanted to roll over my 403(b) into an IRA account. My 403(b) consisted of two funds in two different companies, Fidelity and TIAA-CREF.

There was a fair amount of paperwork involved but I essentially called someone at Fidelity, where I wanted to roll over my 403(b). He asked me some questions and filled out the paperwork for me on his computer. He sent the papers to me to be signed and that was it.

It really wasn’t totally smooth sailing but that is just because my company dragged their heels and lost some of my paperwork. But if you’re rolling over into an IRA, the company you are choosing is eager to help you. Every time I had a problem with getting my former workplace to release my money into the IRA, the Fidelity agent would call on my behalf and work things out for me. It was still a hassle not having things work smoothly but it was just because of incompetence at my workplace, not because of the difficulty of the procedure.

Take advantage of the professionals at whatever company you are doing your rollover into. Let them help you. All you need to do is sign the proper papers, but there are always people who will walk you through the process because they want to get your money into their company.