Team photo
Centuria Financial Group


David P. McCabe,


Financial Planner, Prudential Advisors


Jason M. Bowers,


Financial Planner, Prudential Advisors


Nathaniel D. High, RICP®

Financial Planner, Prudential Advisors


Nicholas Over

Financial Planner, Prudential Advisors


Melissa L. Lang

Client Relations Manager, Prudential Advisors


Centuria Financial Group

2333 Baltimore Blvd Suite B

Finksburg, MD 21048


Phone:  443-952-7232

September/October 2022

Saving for Retirement in a Job-hopping World

Saving for Retirement in a Job-hopping World

You might change jobs for a variety of reasons—more responsibility, better pay and benefits, or relocation. When you change jobs, you’ll have to decide what to do with your retirement funds, including money you contributed and vested company contributions. Vesting refers to the portion of any employer matching funds that you own. Leaving a job before you’re vested in your employer’s retirement plan can deprive you of contributions your employer made to your account.

Retirement Plan Choices
Here are some options that are typically available. Your financial and tax professionals can help you to make informed choices.

1. Cash Out Your Account
You can choose to withdraw your retirement savings when you leave a job. Your employer will send you a check for the balance minus any required tax withholding. If you keep the cash, income taxes may be due - and if you're under age 59 1/2, an additional 10% penalty may be due. Alternatively, you'll have 60 days to put that money, including any tax withheld, into a new tax-qualified account.

2. Leave Money in Your Former Employer’s Retirement Plan
You may be able to leave your money in your former employer's plan. This might be a good option if you have a substanial account balance and like the plan's investment choices, or if your new employer does not offer a similar plan. Remember that leaving money in a previous employer's plan could make your account harder to manage.

3. Move Money to a New Employer’s Plan
If your new employer permits rollovers, you may want to roll over your account balance to your new employer's plan. That way, you'll have all your retirement savings in one place, making it easier to manage your investments. By asking your former plan adminstrator to transfer the funds directly to your new account, you'll avoid tax withholding and delay paying potential taxes and penalties.

4. Roll Over to an IRA
You can also ask your plan adminstrator to transfer funds directly to an individual retirement account (IRA) that you've set up. An IRA may give you a wider range of investment options than you have in an employer's plan, and you have full control.



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Life insurance is issued by The Prudential Insurance Company of America, Newark, NJ, and its affiliates. Centuria Financial Group is not affiliated with Prudential Financial. Centuria Financial Group sells insurance products of Prudential Financial's affiliated insurance companies in addition to products of non-affiliated insurance companies. Centuria Financial Group is authorized to sell and service certain insurance products of Prudential Financial companies as well as use this material. Centuria Financial Group and its representatives do not give tax or legal advice. Please consult with your own advisors regarding your particular situation. Offering financial planning and investment advisory services and programs through Pruco Securities, LLC (Pruco), under the marketing name Prudential Financial Planning Services (PFPS), pursuant to a separate client agreement. Offering insurance and securities products and services as a registered representative of Pruco, and an agent of issuing insurance companies. 1-800-778-2255. Prudential Advisors is a brand name of The Prudential Insurance Company of America and its subsidiaries. Melissa L. Lang is employed by David McCabe and not The Prudential Insurance Company of America or its subsidiaries.
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