Medicated Money

Monday, August 21, 2006

You Got To Roll With It!

With this past Friday being our last day of work, we spent today finalizing everything with our now previous employment. We had meetings with HR, Payroll, Benefits, and underwent exit interviews. We are planning on signing up for COBRA, but this will not occur until September 1st due to our health insurance continues for the rest of the month. We plan to discuss this in another post!

One important item from today’s meeting was to decide what to do with the money we have invested into our pension fund. With our employer, one becomes vested at 5 years of service. Unfortunately, we did not reach the five years; therefore, we have decided to roll the money into an IRA. I contacted our financial institution that we invest our 403(b) into, and because we like their services, we have determined to stay with them. We plan to roll our pension money into an IRA as well as take the money from our 403(b) and roll that in as well.

I must say that I was very impressed with the service our financial institution provided. They spent the better part of an hour going through the online application and answered every question that I had. I am unsure what financial institution options we will have with our new company; however, we are hoping that our current group will be an option.

As of right now, because my new company does not match any contributions for the 1st year, we are currently of thinking of not investing any money in order to fund our housing account that we plan to start after we complete our debt repayment plan. Yet, that topic is for another post!


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