Consolidating accounts rules

And if that's better than what you're 401(k) plan has been doing for the past few years, it may be time to make a move.

401(k) plans can contain – and even hide – a large number of fees.

If you have multiple retirement accounts, you're paying multiple plan fees.

That can be caused by an extended period of unemployment, or a major medical event.

It also has the advantage you may be able to roll it over into the 401(k) plan of a new or future in the employer.

You might do this for one, some or all of the five reasons given in the last section.

Since they are employer sponsored plans, managed by a plan administrator, it can often seem as if there's an invisible wall around a 401(k). They may offer a small number of mutual fund options – such as one index fund, one international fund, one emerging market fund, one aggressive growth fund, a bond fund and a money market fund – plus company stock.

If you want to spread your investments to other sectors, or to invest in individual stocks, you will do much better with an IRA account.