what happens with our 401k plans once we separate? does it stay with staples?
4 replies (most recent on top)
Once you are no longer with Staples, you have choices of what to do with that account. I am a former Staples employee (5 years there and 3 years post Staples). I am now a financial educator and can help you with the choices. please contact me if you would like some help. preinagel01@gmail.com or grab a time slot on my calendar.
https://calendly.com/preinagel01/45meeting
I echo what others are saying. Staples will want you to move it somewhere else, so they will remind you a few times a year that you have an option of moving it somewhere else.
Fidelity offers fairly good cash bonuses (I think it's 300 bucks if you open an IRA account with them). With this being said, you can go to any brockerage that offers an IRA account and just roll over money there.
You may want to move it into an IRA in the near future to avoid the fees and pursue better investment options. Same for your HSA. It’s a fairly simple process and allows you to put Staples in your rear view mirror!
Good luck and sorry so many of you were impacted today!
You can keep it as is or move it to an IRA. I just left Staples a few months ago and stayed with Empower as an IRA account