7/30 Industry sucks and I am going back to academia. What happens to my
401K? Can I keep it? I can't roll over because I am no longer
employeed. Thanks.
\_ No. You must mail it all to me! Of course you can keep it! You
need to roll it over into another tax-deferred account like
an IRA, which is really what you should do every time you
switch jobs because it gives you much more flexibility than
any 401(k) can hope for. --dim
\_ Unless your an undergrad, you'll be an employee in academia,
either a T.A. or Research Assistant. If you come to UCB you'll
have a 401(a) retirement plan that they automatically put money
into instead of paying Social Security taxes.
\_ I see, so I can roll over ALL of my 401K, that is good.
Does the money stay in the same fund, or the school that
I am going to is going to convert it to their own fund?
\_ If you roll it over to anything else, it will
go into whatever funds are available there.
\_ Don't do it! Academia can work you just as hard or harder and
always pays less! |