Berkeley CSUA MOTD:Entry 16216
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1999/7/31-8/1 [Reference/Tax] UID:16216 Activity:moderate
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!