what happens to your 401k when you leave a job

[BraxtonAnn]

When you leave a job, your 401(k) savings remain yours, but new contributions stop. You can roll the balance into an IRA, transfer it to a new employer’s 401(k), or leave it in the old plan if allowed. Cashing out is also an option, though it often leads to taxes and penalties. A rollover is usually the best way to preserve your retirement savings.