Question on 401k rollover- if you are leaving Citi do you rollover the amount to the new company or leave it until you get Citi match end of March 2025?
6 replies (most recent on top)
What to do in case someone leaving the firm,but not having any offer ATM. May be planning to join something in few years break
In comparison to other investment firms, what’s offered for us at Citi is lackluster. There’s no way I’d leave it at Citi, I’d take it elsewhere and get a better return.
I know what I just typed sounds like I have an axe to grind. Nope, that’s not it. Look around at what other investment firms have to offer, you’ll see.
I rolled most of mine, left 10k to keep it open. They will do the match in March 2025. Don't forget about it.
I rolled mine over into my IRA account after my last day - retired so didn't see much reason to keep contributing in 2024. So, nothing to match and no reason to keep it at Citi.
Would rather have been laid off but you can't always get what you want!
What if you are not having another job?
You can also rollover to a personal IRA account with another investment firm.
Options are: Leave it, move it to another employer, transfer it to another investment firm for you own IRA account.
For me, I’d move it into my own IRA account so that I can have some better investment options. If you quit, you don’t get the matching.