Those of you that have left/quit Macys and were around long enough to have a pension and 401k what did you do with those? Did you pull them out, cash in, leave alone, reinvest elsewhere? Looking for good advice please.
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Everyone's finances are individual to them. Do a lot of your own research. Then see a financial advisor, preferably a fiduciary.
Merrill is not limited. You have to open a Self Directed option and then move funds there for more investment options.
You don't have to wait until you retire. You can do an in service rollover into another qualified account while you are still working for the company. The investment options for Merrill are not fantastic and you don't have to wait until you retire or leave the company to take move the majority of your funds into another investment option.
You have the option of leaving the money you’ve invested in the plan at your old company.
Rolled both my Macy's 401k and pension as a lump sum payout into a managed IRA. That account balance has doubled in just over 9 years.
To many buyout talks / rumors, unsure company future. Did not want funds connected to this company. Rolled both Pension and 401K into an IRA.
Pensions are managed independent from the company and I believe you do not do anything with them and they are protected. 401K money should be rolled over and managed by a reputable investor that has a fiduciary responsibility to you. They will make recommendations based on how much you have and where you are in life.
Macy's may not be around for long. Compare lump sum at 4.2% interest on a 20 bond and a fixed annuity at 5.5% to the pension. If the difference is small, take the lump sum. 401K is simple - roll to an IRA.