Roll Over Your 401(k) Plan(s)

Rolling over your 401(k) plans to an individual retirement account ("IRA") allows the assets in your retirement plan to remain tax deferred while providing a broader range of investment choices to maximize the return on your investment.

Options for Your 401(k) Plan:

  • Leave the money where it is
    Review your current plan documentation to determine if it still meets your current and your anticipated investment needs. While this may be the easiest option, you should take the plan’s available investment choices, expenses, fees, and your need for personal guidance, into consideration.
  • Transfer to your new employer’s plan
    When offered, this may be a convenient investment option in order to keep all your money in one place. As with the option of leaving your money where it is, you should review the available investment choices and personal guidance available under your new employer’s plan to ensure they will meet your current and your anticipated investment needs.  
  • Cash it out
    While tempting, this is usually not a good idea.  In most cases, unless you are eligible for distributions from the plan, you’ll pay a 10% penalty to the IRS, on top of ordinary income taxes. This may have a significant, negative impact on the value of your retirement fund.
  • Roll it over to People's United
    Rolling over your 401(k) to an IRA keeps your retirement plan assets tax deferred and penalty-free.  Plus, you’ll have access to advice and a variety of investment solutions to help keep your retirement planning on track. You should understand the fees that may apply with this option.

Make sure your retirement plan is on track – You can meet with a People’s Securities Financial Advisor at any People’s United Bank location Call today at (800)392-3009 to schedule an appointment or click here to find a Financial Advisor near you.

Related Information


The above is general information regarding rolling over your 401(k) plan, and does not take your unique, personal circumstances into account. It is not intended to be complete and should not be relied upon in making final decisions concerning IRA accounts. The information is not meant to constitute legal or tax advice. Please contact your tax professional for full details or visit the IRS website at

Investment and Insurance Products:

  • Not Insured by FDIC or any Federal Government Agency
  • Not a Deposit of or Guaranteed by a Bank or any Bank Affiliate
  • May Lose Value

Investment and insurance products are offered through People’s Securities, Inc., a Broker/Dealer, member of FINRA and SIPC, an insurance agency and a registered investment advisor. People’s Securities, Inc. is a subsidiary of People’s United Bank, N.A. Investment products may involve risk, including possible loss of principal.

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