ETTM: Retirement Shares

[macpanda]

I don't want to post on MM. I know we have a few people who are good with money here so ...

ETTM: work is switching retirement plan providers and no longer using the provider I have. I have to get a new account with the new provider. For a short amount of time I can move all of my funds from the old to new provider without incurring fees or whatever. I have x number of shares for x dollar amount with the old provider - for example, 3000 shares of ING mutual fund for retirement in 2040. If I switch my funds over am I selling my shares? What are the consequences of selling my 3000 shares ING 2040 and moving the money to buy shares of Fidelity 2040? Should I do this or should I maintain two accounts? I would never be able to contribute to the ING again I don't think. I am worried that I will lose money or get fewer shares I guess.

TIA

[jennlin]

if you move the money during the time frame, they'll call it "roll over". you wont' have to pay the taxes, and you won't lose any money.

[Deleted]

Jul 24, 2012 15:41:26 GMT -5 jennlin said:

if you move the money during the time frame, they'll call it "roll over". you wont' have to pay the taxes, and you won't lose any money.

This.

If it's a company thing it should be really easy to roll over.

[niq]

It might depend on the type of plan, but assuming it's a 401k, which it sounds like, what PPs said. As long as it's all staying within your 401k there are no tax consequences.