Should I Roll My 401(a) Plan or Leave It? 

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I don’t think this guy know what his plan offers. I would recommend he reach out to his employers HR team and discuss his options. Things can go very wrong when you follow advice blindly without additional research

This is interesting. I left my job with a 401(a) and my plan was 100% employer contribution and the employees weren’t allowed to contribute; however, I was able to take it with me and roll it into my new plan. He couldn’t vest until age 50. Crazy!

Jesus, the "a" in 401(a) doesn't mean that it's after-tax as Dave flippantly states.

This is why Dave recommends advisors. I think this guy just doesn't know anything. Vesting requires you to be working for the company. You can't quit and leave your money in company plan and still be vesting.

It takes ten years to be vested in our pension plan. If you take it before then you only get your contributions. We get No say in the amount or options for our contributions. It does not earn well.

I am 99% confident this man does not know much about his 401K plan. He need to research his plan. Many 401k plans are pretty decent, not all of them stink.

The biggest fear is the fear of failure. So what we need to agree upon together, and on a personal level, is to discipline our mindset into realising that there are no failures, there are only results or outcomes. You never fail in life, you always succeed. You succeed in getting results of some sort. The key is what we do with those results.

Wow! I've never heard of a company not let you keep your matching. That sucks.

More and more companies are doing LOOOONG term vesting requirements regarding the match.

The 401k where the company picks the stock fund for you is probably a target date fund so the returns will be more conservative vs what dave prefers.

If he was in the WRS retirement plan they vest after 5 years of employment with a local government, state or school district employer. It's a pension not a 401k plan. The plan is extremely successful in the investment options the Board chooses because of knowledge advice.

I have been in the Wisconsin retirement system since 2019. I can tell you for certain there's a five-year vesting period. If you leave before the five years you don't get any of the employer contributions

This was cringe, and hard to watch. It’s what all of these garbage venture capitalists companies do to get that catchy “employee owned” slogan for the marketing team. They use ESOP/profit sharing to make the “match” contribution, they do contribute and invest these funds quarterly. Then they categorize you as an “owner” or “chair holder” of the company, all while making it impossible to get any answers on the slush fund. Also having language buried in the BS fine print stating if you “succeed your ownership in the company” or “voluntarily forfeit your position” you loose everything the company contributed, plus the interest. All while also having arbitrarily added stipulation like needing 40+ years of service or minimum age needed to receive 100% of the funds, and having “fund managers/boards” that can completely deny your “request” to Your funds. So if you try to leave or get fired and roll your remaining 50% funds to an IRA it was never considered a retirement account by the Government and they ste…..take its 20% and you wind up loosing

So true. Hanging on to that bag of bones for 20 years is bad karma. A 20 year reminder of the old stinkin' job that gave you a horrible retirement option.

The math is wrong...if 30 = 60 = 120 = 240; then 60 = 120 = 240 = 480; Not they're "exactly the same"

No way would I take the money - who is to say the current plan wont do 10% and takeing a 30k hit hoping for a better result. It's only 30k let it ride and start fresh

30, 601 120, 240. I can do it in my head without any paper. He's been forgetting a lot of things lately.

If the funds in your old plan are good and the fees are low leave it there. Dave only recommends rolling it to a traditional ira so his smart vestors make more and dave gets a bigger cut.

These companies dont care about any of us. Please have your money invested into other places, so you can retire.

Has the money not gained or lost a single penny? Or is he not allowed to take the earnings on the match either?

If he doesn’t move it he can’t add to it to make it grow faster. I may be wrong with my thinking, if so let me know I’m new to this. And if he does roll it over should it go into a Roth? Thanks, Joshua

Cash it out

Keep it there. The return you need to match to pull ahead will lead to unnecessary risk.

Boomer, he said 3 times that he is 30.

First!