Once you leave your company, you may have the option to rollover to an IRA with another provider. (1) There is a $50 distribution fee charged for all distribution requests. Generally there is no cost to set up an IRA and you typically have more individual control over your investments and distributions. Unlike the full protection you get with a 401(k), you’ll have limited bankruptcy and creditor protection with an IRA. To review other 401(k) account options see the article “What happens to my Guideline 401(k) account if I leave the company?”
(1) When deciding whether to keep your Guideline account open long-term or transferring your funds to another account, you should consider all associated fees. We recommend reviewing Guideline’s fee disclosure here and comparing against the fees charged by other providers to determine whether keeping your Guideline account is the right choice for you.