Anyone know how taking the buyout will affect the 401 k? How long do you have to work there before you are considered vested in the and will not loose the company contributions for the 401k
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Let's come together and support one another during this difficult time. Your kindness can make a world of difference.
After I was terminated from UHG I transferred my funds from the UHG account to my personal retirement account I already had. The Roth portion(which they created without my knowledge as I specifically wanted Traditional not Trad/ROTH) I created my own ROTH IRA for that portion.
After layoff #2 I took everything out of the UHG managed account and put it in my roth. I mean almost right away.
Does UHC even have an option where you are vested in the company?
Unless you hold all the contributions in cash you betcha money can be lost. If sitting in cash you are losing to inflation. Money already at fidelity just redirect to brokerage link option to jailbreak the account to invest in whatever your heart desires. If you choose a rollover from 401k to an IRA you have to liquidate all your positions and lock in your current losses. Running blind for 15 years seriously maybe its for the best since the judgement is lacking. The spirits will provide with no intervention from me. Defined benefits pension has been gone for decades you need to manage your account not hope for the best
Maybe a IRA Savings Acct you won’t lose money, but a Roth IRA can lose money. If you are part of a credit union or a bank that offers an IRA Savings Acct, it may be worth getting info on it.
You very well can lose money in an IRA
I would speak with fidelity. You have the option to withdraw and place in another retirement acct ex IRA, or you may be able to leave your funds with fidelity. Idk your situation, but personally, I would move to an IRA given the current climate with the market. At least with the IRA you wouldn’t lose money, but if you leave it with fidelity, your money could fluctuate. The fluctuation the past few days have been scary.
Can anyone advise on if anything needs to be done with the 401k? I've been here 15 years but admittedly don't know a lot about investing. Will I have to take action or will it remain with fidelity?
1 year