FAQ - ANSWER

I have a 401k at my current employer, but plan to change jobs. Can I start a second 401k account at my new employer and still keep the 401k account at my former employer?

Answer: There are no restrictions on how many 401k accounts you have. As long as the balance of your existing 401k is over $5,000, you can leave it at your current employer and start another 401k at your new employer. If the balance is less than $5,000, the plan sponsor has the option of requiring you to rollover the assets into an IRA or another 401k.