What are my options for my simple ira if I leave employment my first year?
I have a simple ira. My husband is being relocated for his job. I must leave my employer after only a year of employment. Is my only option to withdraw my simple ira and be fined 25%, or are there other options?
Thanks for posting your question.
Your best option is to talk to your HR department or call the phone number for the IRA plan administrator. Most plans are designed to allow you to keep them, even after you leave employment, or will allow you to do a rollover to another similar plan with a new employer. Talk to you your plan administrator to find out what your exact options are.