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Frequently Asked Question

How Many 401k's Can I Have?

Answer: There is no legal limit on the number of 401k's you can have at one time, but you can only contribute new money to the plan at your current employer.

Just because you can keep open 401k plans from previous employers doesn't mean it is the smart thing to do. In our opinion you should consolidate old 401k's into your current 401k or an IRA. This will allow you to better monitor the investments and maintain complete control over the accounts.

This is for educational purposes only. The information provided here is intended to help you understand the general issue and does not constitute any tax, investment or legal advice. Consult your financial, tax or legal advisor regarding your own unique situation and your company's benefits representative for rules specific to your plan.

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