Expert: Allen - 8/27/2008

Question
Hello,
     I have a job and starting my other job soon and my
present job I have a 401k plan. Can I rollover my 401k to
my new job which the match is better than the one i have and kept it open ? Is it ok to have 2 401k acct?
please help??? thank you for reading???

Answer
There are two separate issues here.

1. If the new plan and the old plan have matching provisions, each company will match contributions made to its plan. There is no match on amounts that are rolled from one plan to another.

2. You can participate in two separate 401k plans. However, you may want to rollover the money in the old plan if you like the investment options in the new plan and/or if you want to simplify things by only having one account. You will not want to rollover the money in the old plan if you like its investment options.