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Evan M. Haines, CFP®, ChFC®, RICP®
Financial Advisor
Prudential Advisors
222 Independence Street
PO Box 632
Perryopolis, PA 15473
Phone: 724-736-2130
Email: evan.haines@prudential.com
March/April 2023
Is a New Employer in Your Future
Starting a job at a new company can be an exciting opportunity. Before you clean out your desk and say good-bye to your coworkers, review the items on the checklist below.
Your Retirement Account.
You can:- Leave the money in your former employer's plan, if the employer allows;
- Have funds directly transferred to your new employer's plan or an IRA. Consider rolling over HSA funds to your new health account as well;
- Cash out of the plan. However, if you opt for cash, you need to pay income taxes at your ordinary rate and if you are younger than 59 1/2, you will pay a 10% penalty.
Stock Options.
If stock owneship is part of your compensation find out the stock type, tax implications, vesting schedule, and what will happen to the stock if you leave the company.Benefits.
Review your new employer's insurance and benefit plans to determine if benefits match what you currently have.Flexible Spending Account.
Use any money left in your FSA before you leave the company so you don't lose it.1054790-00002-00
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