I recently left this hellhole for another carrier, does anyone know how to transfer over the funds from their 401k?
13 replies (most recent on top)
I opened an account with a broker, then called the benefits number and they transferred the money to the broker, Charles Schwab.
That should have been done well before now. As a matter of fact I would encourage anybody still working to transfer your money to an outside IRA ASAP and get that money away from Allstate’s control.
You can roll the 401k into a Rollover IRA at the new brokerage firm where your current employer has their plan. You need to contact the firm where you are moving the assets to start the process. I’m a licensed stock broker. Best!
Allstate hr chat helped me when I went to progressive. They sent me a check and then I uploaded it to the other 401k
@1hnr+1dEMXkfA same goes for lose and loose
You should find a good Certified Financial Planner and roll over to a Roth if it's not already in one. The CFP will handle the paperwork. Definitely participate in the 401(k) at your new employer if they match funds, and you can use your CFP to provide guidance on retirement saving based on your specific situation.
That should've been discussed upon hiring....it's simple math for goodness sake!!
Why do so many people not understand the difference between advice and advise??? My advice is to not let anyone advise you if they don’t know.
@OP+1dEMXkfA: OP, you need to call your 401k broker (the one that Allstate used) to initiate the rollover into your new employers 401k or a roll over IRA, so this needs co-ordination with both brokers.
I suggest you talk to them for instructions.
Here is the true mistake of leadership…hiring id--ts like the OP. Coming to this board to get advise on something as important as 401K? SMH. Maybe talk with a bank or investment company first.
Your welcome
Allstate gets to keep your funds.
Call Allstate hr. They should be able to walk you through
Really?