Pros and Cons for Rolling Over a Work Place Plan to an Ir A

The main pro for leaving retirement money in an ex employer's plan is that its days invested and growing. However, you can't make new contributions because you're no longer employed by the plan sponsor. Option number three for an old retirement account is to do an i r a roll over. Most four o one ks and four o three bs do allow a roll over from your old employer's plan. And just like an ir ra roll over, you need to complete it within 60 days to avoid tax and penalties.