What should I do with this retirement account that I don’t need?
Updated 9:30 PM;
Q. I’m 55 and retiring in November. I have a 457 plan worth $75,000 that I will have to reinvest. I don’t plan to use this money immediately because I have other retirement funding. What should I do? In the money
A. Congratulations on your upcoming retirement.
Before considering your options, it’s important to understand the type of 457 plan that you have, said Kenneth Van Leeuwen, a certified financial planner with Van Leeuwen & Company in Princeton.
If you have a governmental 457(b) plan, you will have the option to roll over your account to a traditional IRA, he said.
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