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Remember about your savings! |
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 There are a lot of things you can to if you decide to change jobs or when you retire.
-When retiring, you might choose this option if your spouse is still working or if you have other sources of retirement income .
-If you're ging to start your own business when you leave the company, keeping your retirement money in your former company's plan may help protect your retirement assets from creditors.
-It is possible to move your money into another qualified retirement account, such as an Individual Retirement Account (IRA), or new employer's retirement savings plan.
-You can choose to have your money paid to you in one lump sum, or in installments of a fixed amount or over a set number of years
Other things you should be aware of the following facts:
• You must begin taking distributions from your account by April 1 of the year following the year in which you turn 70 1
• keeping your money in your plan is included in your distribution options
• If you are under age 55 at the time of separation from service, a direct rollover may be a good option
• you must pay taxes on the money you receive at then-current rates.
• find out if your new employer offers a retirement plan into which you can transfer money now sitting in a former employer's plan.
• You'll be required to start taking distributions after age 70 |