When you change jobs,your 401(k)plan savings can be left with the previous employer's plan,can be rolled over to the new employer's plan or to an IRA,or can be cashed out.

Question

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When changing jobs, you have the option to leave your 401(k) savings with your previous employer's plan, roll them over to your new employer's plan or to an Individual Retirement Account (IRA), or cash them out, although cashing out can lead to taxes and penalties.

When You Change Jobs,your 401(k)plan Savings Can Be Left with the Previous