When you leave a job, your money stays yours. You can leave it where it is, move it to your new employer’s plan, or roll it into an IRA. Avoid cashing out, as you'll face heavy taxes and a 10% early withdrawal penalty.
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Updated on Feb 24, 2026•education
What Happens to Your 401(k) When You Change Jobs?
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2 Answers
When changing jobs, your 401(k) can be rolled over, left, transferred, or cashed out, each option affecting taxes and retirement savings.
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