How do I know which one??
Here’s a summary of the main problem and solutions discussed in the conversation:
- Main Problem: The user, Marie, is unsure about the options available for her retirement funds after leaving a job, specifically whether she will receive a cash distribution or if the funds will be rolled over into a new retirement account.
- Solution: Fidelity suggests that she contact their Workplace Investing team to discuss her options further. They are available on regular business days from 8:30 a.m. to midnight ET.
- Additional Resource: Fidelity provides a link to an article that explains what happens to a 401(k) when someone quits a job, which could help clarify her situation.
Here’s the full thread
I left a job that used fidelity and saw this message but am not sure how i find out which one id be getting?? The cash distribution or rollover into new retirement account? i’m also only 22 so a little confused
Thanks for reaching out, @marie.
Depending on the type of account and the value of your account when you leave an employer, you may receive a check or the funds may be rolled over into a Fidelity IRA.
We recommend giving our Workplace Investing team a call to discuss your choices. Due to the holiday, they are not open today but they are available during regular business days Mon. – Fri., 8:30 a.m. – midnight ET. You can use the following link to contact them tomorrow.
Contact Us: https://www.fidelity.com/customer-service/contact-us
In the meantime, check out the following article from Fidelity.com
What happens to a 401(k) when you quit a job? https://www.fidelity.com/learning-center/smart-money/what-happens-to-your-401k-when-you-leave-a-job
If there is anything we can clarify or if additional questions pop up, please don’t hesitate to ask. We’re always happy to help. 🟢