New England Federal Credit Union
141 Harvest Lane
Whether leaving your employer means starting a new job, starting over or entering retirement, there’s no doubt you’re dealing with change and the stress that goes along with it. With everything you have to think about, deciding what to do with your accumulated retirement savings might not be foremost on your mind. But it’s the one decision you can’t afford to put off. That money you’ve worked so hard to save could be one of your biggest sources of income during your retirement. What you decide to do with your retirement savings can go a long way toward preparing for and living the retirement you envision. It could mean the difference between enjoying a comfortable retirement and struggling to make ends meet. You have several options to choose from.
Before deciding whether to retain assets in an employer sponsored plan or roll over to an IRA an investor should consider various factors including, but not limited to: investment options, fees and expenses, services, withdrawal penalties, protection from creditors and legal judgments, required minimum distributions and possession of employer stock.