Changing jobs is exciting—but it’s also one of the easiest times to lose track of your retirement savings. Too often, a 401(k) gets left behind with a former employer and quietly forgotten. While it may seem harmless, leaving an old 401(k) where it is, can cost you flexibility, growth, and control over your retirement vs. a 401(k) rollover. You may even start seeing additional fees for the inactive account.
Here’s what to know—and why rolling your 401(k) into an IRA at Metrum Community Credit Union may be a smart next step.
What Happens When You Leave a 401(k) at an Old Job?
Leaving your retirement savings behind can create challenges over time:
- You’re no longer actively monitoring the account
- Investment options may be limited or outdated
- Fees can be higher than necessary
- You may forget login details or paperwork
- Consolidating accounts later becomes more complicated
As careers change, it’s common to end up with multiple retirement accounts scattered across different employers. That makes it harder to see the full picture—and harder to plan.
Why Rolling Over a 401(k) Often Makes Sense
Rolling your 401(k) into an IRA helps you regain control and simplify your retirement strategy. Benefits may include:
- One central place to manage your retirement savings
- Potentially better rates and growth opportunities
- More flexibility with how your funds are invested
- Easier long-term planning and tracking
- Continued tax-advantaged growth
A rollover doesn’t mean starting over — it means keeping your savings working for you, just in a more intentional way.
IRA Options Available at Metrum Community Credit Union
Metrum offers two IRA options designed to meet different retirement goals, timelines, and comfort levels.
IRA Savings Accounts
Ideal for those who want flexibility while still earning interest.
- Accepts deposits throughout the year (subject to IRS rules)
- Low minimum balance of $100 to open
- Interest paid quarterly
- Pays progressively higher rates on increasing balances
- Federally insured to at least $250,000 by the NCUA
IRA Certificates
A good option if you’re looking to lock in a higher rate for a set period.
- Terms range from one to five years
- Minimum balance of $500
- Interest paid quarterly
- Jumbo rates may be available
- Federally insured to at least $250,000 by the NCUA
Both options allow you to keep your retirement funds safe, insured, and working steadily toward your future.
Who Might Benefit from a 401(k) Rollover?
A rollover may be a good fit if you:
- Recently changed jobs
- Have multiple old 401(k) accounts
- Want simpler retirement account management
- Prefer a local credit union you trust
- Are looking for competitive rates and personal guidance
Get Help Creating a Retirement Plan That Works
Retirement decisions don’t have to be overwhelming. Metrum’s knowledgeable team is available to answer questions, explain your options, and help you decide whether an IRA Savings Account or IRA Certificate is right for you.
If you’ve left a 401(k) behind—or want to make sure your retirement savings are on the right track—now is a great time to take action.
Check current IRA rates or contact Metrum Community Credit Union to start planning your next step with confidence.