My Top 3 Gold Broker Recommendations. Remember the 10% penalty tax. When you roll over a 401k to a Roth IRA, you will owe income taxes on the amount you convert. A rollover IRA is an account used to move money from old employer-sponsored retirement plans such as 401 (k)s into an IRA. e. Bottom Line. There are five basic options for what to do with your Principal 401k: Leave it in the old 401k plan. Be very sure, though, to emphasize that you want a “direct rollover,” meaning you’re moving the funds directly from one retirement account to another. Do you love the 401k plan with your new company? Check with your new HR department to determine if you can do a 401k rollover to transfer your money. For many employees, what to do with a 401 (k) plan at retirement has been a foregone conclusion: Roll it over. Most plans we see are Traditional 401k plans, which means you can roll over into a Traditional IRA to avoid taxes. Book a FREE consultation. Contact Your Current Plan Administrator and New. What isn’t different: The 401 (k) contribution limit applies to both. 401 (k)s are ERISA plans with bulletproof protection from creditors. Make an informed decision: Find out your 401 (k) rules, compare fees. An IRA rollover is when you have an old 401 (k) plan that you roll over into an IRA. If you’re seeking to roll over your 401k into an annuity,. 401(k) Rollover Specialist ((k)RS™) Credential; Certified Plan Fiduciary Advisor (CPFA®) Credential;The DOL’s proposed rules would put advice regarding IRA rollovers under the scope of fiduciary investment advice. Option 2: Do nothing and leave the money in your old 401 (k). Balance at retirement if account rolled over: $ 1,141,981. And when you’re ready to learn more, give us a call at (800) 355-2116. Open your account and find out how to conduct a rollover. A 401(k) rollover is a transfer of money from an old 401(k) to another 401(k) or an IRA. The five options are: Keeping it in the same account. See if a 401(k) to Roth IRA rollover is the right retirement plan for you. How do I roll over my 401(k) into an I. Direct rollover. You can invest in broad market indexes so you are not dependent on Company B for both your income and retirement. Looking to roll over your 401(k)? Here are NerdWallet's picks for the best account providers for a 401(k)-to-IRA rollover. An indirect rollover technically takes longer than 60 days to complete because 20% of the rollover amount is withheld by your old plan provider. A 401k rollover is when an individual transfers their retirement savings from a former employer's plan into a new retirement account. My prior employer's 401 (k) account value is $00. Top 5 Gold IRA Providers: A Brief Overview. The mailing address and other methods of processing a rollover can be found in the link below: Learn how to deposit an old 401(k) check. first responders were called to a two-vehicle crash with serious. There is no limit on the amount you can convert from a 401k to a Roth IRA. e. Resources Alight* Employees May Enjoy. Crown Point Fire Rescue. Taking a lump sum payout may seem enticing, but most financial advisors would caution against it. The following are other retirement planning options that involve a 401(k) rollover. By making an IRA contribution to a Rollover IRA you may be commingling qualified plan assets (i. If you decide to roll over an old account, contact the 401 administrator at your new company for a new account address, such as ABC 401 Plan FBO Your Name, provide this to your old employer, and the money will be transferred directly from your old plan to the new or sent by check to you , which you will give to your new companys 401. With a 403(b) plan, you can save money before you pay taxes on it. Activate your account. Yes, you can roll over a 401(k) into an IRA without a penalty; however, you must complete the rollover within 60 days of withdrawing your 401(k) balance, otherwise, you will be charged a 10% early. Penalties for those under age 59½ who withdraw money from. ). A 401 (k) rollover is when you take funds from your current 401 (k) and move them to another approved retirement account, such as a different 401 (k), a traditional IRA or a Roth IRA. 2. People rolling over a 401(k) won’t mind the small transaction fee. This may include the new Roth IRA’s provider’s name, account number, and address. 2 million accounts holding a total of $1. Known as a rollover, it’s not limited to 401 (k)s either. The 4-Step 401k to Gold IRA Rollover Guide. Similarly, if you find a retirement savings vehicle with better returns than your 401(k), a rollover is also an option. IRA Rollover to 401 (k) If your survivor is inheriting retirement funds in an IRA, the rules are similar, but are also subject to an employer’s guidelines. Crown Equipment Corporation's 401k plan is with Merrill Lynch with a total asset size of $811,842,713 as of 2019. workers have left behind 29. It is a process that allows you to move funds from your previous employer-sponsored retirement plan, a 401 (k), for example, into an IRA. You might be required to roll over your 401(k) if: • You don’t meet a minimum balance requirement. As the Precious Metal IRA Specialists, Birch Gold Group’s qualified IRA department can help you every step of the way in transferring your 401k to a gold IRA, including taking care of all the paperwork. 2. Start completing the fillable fields and carefully type in required information. Changing or leaving a job can be an emotional time. A reverse rollover involves moving money from an individual retirement account (IRA) into a 401(k) or other employer-sponsored retirement saving plan. This means that the funds from your 401 (k) will be transferred directly to your new Gold IRA. Find out more about the process involved in rolling over an old 401(k) to a new IRA. Internal Revenue Code. Direct rollovers from pre-tax 401(k. Even the biggest blue chips can fall over a lifetime -. Key Takeaways. In a direct rollover, the plan administrator of your 401 (k) wires the funds to the trustee of your IRA. Morgan is committed to making our products and services accessible to meet the financial services needs of all our clients. 401k Rollover Options 2022 (Rollover to IRA, to Roth IRA, or to New Employer). “In other words, that extra percentage point. To initiate. A 401k is a retirement savings plan that most employers offer. January 23, 2021 1:50 PM. 231 outside of Crown Point. This information will come in handy later when you contact T. 10% on a small amount is very small. S. IRA plans. Pros: You don’t have to do anything right away. Once you set up your account, you can roll over the funds from your 401(k) in one of two ways: a direct or an indirect rollover. Roth 401(k) Traditional 401(k) Contributions to a traditional 401(k) plan are taken out of your paycheck before the IRS takes its cut, and your money grows tax-free. Medical or funeral expenses for you or your family. 401k: Withdrawing funds from your 401k before age 59½ will incur a 10% early withdrawal penalty and taxes. Take care to avoid tax liabilities. There are a variety of options to consider when rolling over your 401(k) account into an IRA. 401k Rollover Options. The Rollover Chart PDF summarizes allowable rollover transactions. For 2023, the annual limit for most people is $22,500. 46%. Step 1: Rollover IRA Funding Method. employer’s retirement plan • Tax-deferred until withdrawal • Direct rollovers from 401(k) to IRA will not incur federal income tax • Account fees may be higher than employer-sponsored plan • Tax penalty for early withdrawals before age 59½ • Indirect rollovers may incur 20% federal income tax Transfer funds into your newA direct rollover is easier because the trustee of the 401K sends money directly to the gold IRA custodian. You can invest in broad market indexes so you are not dependent on Company B for both your income and retirement. IRA, 401(k), Pension Plan Withdrawals (1099-R) Social Security (SSA-1099, RRB-1099) Canadian Registered Pension Income; At this point you can edit an existing document of [Add another 1099-R] If a new 1099-R continue to Let's import your tax info; You can. Traditional 401(k) vs. 65%. You cannot cash out your 401k without penalties if you’re under the age of 59½. A 401(k) plan can be left with the original plan sponsor, rolled over into a traditional or Roth IRA, distributed as a lump-sum cash payment, or transferred to the new employer’s 401(k) plan. Our Commitment: To provide a caring and enriching atmosphere that meets & exceeds the expectations of our residents while extending compassion, sincerity, and. Rollover and convert to a Roth IRA. When you roll over your old retirement account into an IRA, you can preserve the tax-deferred status of your retirement assets without paying current taxes or early withdrawal penalties at the time of transfer. Call Us: (770)-755-1565. Then, the. The average 401(k) participant has 9. The first option is to take no action at all. Roth IRA contributions are made. This includes only money you originally contributed to your Roth IRA or another designated Roth account such as a Roth 401k, Roth 403b, etc. 8/5) Goldco: Great Buyback Program. A 401(k) is a qualified profit-sharing plan that allows employees to contribute a portion of their wages to an individual. There are two ways to roll over your 401 (k): direct and indirect. Contact your 401 (k) provider. This will allow all tax-deferred income earned in this account to continue being deferred. Cashing out and paying taxes, and withdrawing penalties. If your employer offers a 401(k) with a company match: Consider putting enough money in your 401(k) to get the maximum match. One of the most common questions people ask is whether to rollover the 401(k) to a Roth IRA instead of a new 401(k). To log in your Crown Equipment Corporation 401k account, go to Merrill Lynch website and enter you username and password. Or maybe you have multiple 401(k) accounts you want to combine so they’re easier to manage. In the case that your employer isn’t taking care of your 401(k) plan in the way you want them to, you should consider a rollover to an IRA. Derek. This is called Vesting. Commonly offered as part of a job benefits package, employees may save a portion of their salary in a 401 (k) account, subject to. • 2 mo. Just a reminder, your app store site has its own privacy and security policies. People rolling over a 401(k) won’t mind the small transaction fee. J. See how ADP® can help you create a retirement plan that is smart and easy for your business. About 50 percent of employees save less than $5,000 per year for their retirement. Leaving Your 401k With The Former Employer. The IRS allows you 60 days from the date you receive a distribution from an IRA or retirement plan to roll it into another plan or IRA. Plus, the IRS treats the additional rollover as an excess. Quick steps to complete and e-sign Prudential 401k rollover form online: Use Get Form or simply click on the template preview to open it in the editor. Gold 401k: Converting Your 401K into a Gold-Backed IRA. nothlit. CROWN POINT — Two people were seriously injured in a rollover crash near Crown Point Monday morning. You can rollover some or all of your traditional 401(k) balance into a gold IRA. Hardest part is finding the right forms and where to. Start completing the fillable fields and carefully type in required information. Doing nothing with your 401 (k) once you reach 59. An IRA is a valuable retirement plan created by the U. The easy answer to your second question is again, yes, you can potentially contribute to a Roth IRA even if you contribute the yearly maximum to a 401 (k). You must reinvest the funds into your gold IRA within 60 days to avoid IRS penalties. For a free Gold IRA Rollover Guideline check it out. Using a direct rollover, $55,000. I am in the process of converting a Traditional IRA to a Roth IRA (the full amount). 1. Office: (847) 797-9876. Ask the brokerage and your 401 (k) administrator about the transfer process. The Internal Revenue Service offers more information on tax scenarios as well as a rollover chart. At the same time, the person must transfer the money in the specific time they get if they want to avoid penalties. That way, you’re most likely to avoid paying taxes and early withdrawal penalties—something you’ll definitely face if. 401 (k) lockbox addresses: If regular mail: Betterment 401 (k) PO Box 208435 Dallas, TX 75320-8435. In-service 401 (k) rollovers let you transfer 401 (k) funds into an IRA without switching jobs, offering more investment options and potential fee reductions. Lizzie Kaboski. Rolling your money over into an IRA can reduce the management and. Here is a comparison of returns for two hypothetical funds whose fees differ by only one percentage point. In practice, when you roll funds over from a 401k to a Roth IRA, you must first transfer the funds into a traditional IRA and then into a Roth IRA using the backdoor Roth conversion process. Folks who are 50 or older can contribute an additional $1,000. As of February 1 of this year, the DOL regards any recommendation to rollover assets from a 401 (k) plan not managed by you, the advisor, to an IRA that is managed by you to be a prohibited transaction – unless you can document, to the client and (probably) the satisfaction of a future auditor, that the rollover is in his/her best interests. Depending on your compensation, you can contribute up to $61,000 to a Solo 401k for 2022. This information will come in handy later when you contact T. Option 3: Roll over the money into your new employer’s plan. Sep 29, 2023. For example, some 403 (b) plans might not accept rollovers, or your 401. 1. Money that’s transferred into an IRA or new 401 (k) during a rollover does not count toward your annual contribution limit. A QLAC allows you to defer more taxes and buy more retirement income from your 401 (k), rollover IRA or similar tax-qualified accounts. 401 (k) Rollover Step 1: Know Your Options. A Retirement Services application that helps you plan for what's ahead, choose how to get there, and move in the right direction. Fortunately, a rollover IRA doesn’t impact your annual contribution limit to your other IRAs (i. A 401k plan — technically a 401 (k) — is a benefit commonly offered by employers to ensure employees have dedicated retirement funds. Choose a self-directed custodian. I’ll give you the short answer right now: you should probably roll over your 401 k plan from your previous employer to your new one. , offers a rollover IRA option that’s worth considering if you want to move money from an old 401 (k) or 403 (b). If you don't deposit those funds in time, the money you've received from your old. When considering a rollover of your 401k to a Gold IRA, there are several key benefits to keep in mind. Rollover your 401k or IRA that is current to some silver and gold IRA. If you have a 401k plan that offers both a Trad-401k and a Roth-401k as it sounds like you do, if you roll everything over, typically the Trad-401k will roll over into a Trad IRA and the Roth 401k will roll over into a Roth IRA. Birch Gold Group: Great selection of precious metals. Below are three reasons you might want to keep your old 401 (k) plan exactly where it is. Minimum initial deposit: None. It can, however, affect your ability to make a contribution for the current. There are no laws regarding this, it depends on how your 401k was set up, and your plan administrator is the only person who can answer this question. If you want to roll over your account(s), use the Rollover Request form on page 7. The rollover. Still, to avoid paying taxes and penalties, you will want to keep that money in your current plan if your employer allows it, roll it over into a new IRA, roll it into an existing IRA, or move it into another 401(k). And if you're not yet 59 1/2. But the Required Minimum Distributions (RMD) cannot be converted or rolled over . If you don't already have a rollover IRA, you'll need to open one—this way, you can move money from your former employer's plan into this account. The "General Information on Rollovers" the bot provided has lots of relevant information to you, read it carefully. Publication 590-A speaks to transferring an IRA after a divorce. The Internal Revenue Service (IRS) does allow rollovers of 401 (k)s to these, but there may be waiting periods and other conditions. By doing this, the individual can consolidate their retirement. This is because they also offer SEP IRAs and HSAs, which are accounts not offered by many other brokers. SECURE 2. Next, provide your new account details to your old 401 (k) plan provider. You are not contributing at least 5%. Enter your salary and your 403(b) plan information into the Contribution Calculator to see how your money could grow. Note though that retirement accounts are always individually-held, so if you split-up at some point, that partner takes those funds with them unless some judge says otherwise. Leaving it alone if the ex-employer allows it. Not sure if M1 has a rollover form for incoming money. If it is the 401k investment fund of a new employer, you must contact the administrator of the new plan. We’ll walk you through the pros and cons of each one: IRA Rollover: An Individual Retirement Arrangement (IRA) rollover is a transfer of funds from a retirement account into a traditional IRA or a Roth IRA. g. Once you’ve made a choice about which account will receive the funds, make sure it’s activated and that you have the account type and account number available. Indirect. Treasury. Another option is to roll over your 401(k) into a Roth IRA. 4 Step 401k to Gold IRA Rollover Guide. You can also have your financial institution or plan directly transfer the payment to another plan or IRA. His RMD for 2020 should have been $20,000. 1. A rollover from a 401k plan that is implemented as a transfer to another 401k or a traditional IRA can be made tax-free, but when converting to a ROTH IRA, the assets will be subject to ordinary. Cashing out could cost you. In a traditional 401 (k), contributions are. To log in your CROWNPOINT CABINETRY CORP. Consider rolling it over into the plan of your new employer or into an IRA. And while you will not incur any 401k rollover fees, you will suffer other setbacks. Here, we'll discuss four reasons you might want to roll over your 401 (k) today. If you aren’t putting at least 5% of your income into your TSP, to maximize the matching contributions from your agency, you’re turning down free money. 2. A new 401 (k) plan may offer benefits similar to those in your former employer's plan. Best 401(k) rollover options; Get guidance. Wealthfront also offers tax loss harvesting, auto rebalancing, and smart beta technology. 4 options for an old 401 (k): Keep it with your old employer's plan, roll over the money into an IRA, roll over into a new employer's plan, or cash out. Moving it to a new 401k account. 09/07/2023 at 6:08 am. A rollover from a 401 (k) into an IRA is not considered a contribution, so there are no limits on the amount that can be rolled over, and the rollover will not affect the amount you can contribute to the 401 (k) that year. 2. It will not affect your AGI or taxable income. For example, if you do a 60-day rollover of $10,000 then $2,000 would get withheld. If you are using tax software, entering the 1099-Rs from the 401k rollover and Roth conversion should cause this to be entered correctly. 401k to Gold IRA Rollover. [1] Periodic employee contributions come directly out of their paychecks, and may be matched by the employer. Simpler navigation, more information. Fax: (847) 797-9076. In both cases, follow the instructions that the corresponding institutions have for rolling over your 401k plans to the funds provided by them. With an indirect rollover, you receive a check for your old 401 (k) balance. First and foremost. There are some reasons rolling your old 401k into an IRA might be a good idea. Nothing in the IRA is considered to be. You can roll over funds from any employer retirement account, from 403 (b)s to government Thrift Savings Plans (TSPs) . 55 years. 1050 Crown Pointe Parkway Atlanta, GA 30338. There are four main possibilities when considering a potential 401 (k) rollover: Leave your old 401 (k) account as is. Here are the options you might have when completing a rollover. Make sure your funds are being invested properly. If you. Roll over the account into an IRA. See full list on bankrate. A Fidelity 401k rollover involves transferring. Here’s what to consider before completing a 401 (k) rollover. If you have between $1,000 and $5,000, your employer is allowed to move it into an IRA for you. Your old employer might not communicate with you effectively regarding your 401(k) after you leave the company, leaving you. If you do decide that rolling over your old 401(k) to your new employer’s 401(k) plan is your best option, making that transition can also be tricky. To initiate your rollover, you’ll need to contact Empower Retirement, LLC, which as of April 1, 2022, is the new point of contact for Prudential Financial 401(k) administration. Fortunately, a rollover IRA doesn’t impact your annual contribution limit to your other IRAs (i. 6. Once you have opened your gold IRA, you will need to complete the necessary paperwork with the custodian that manages your new account. Rollovers do not count as contributions, so they are not subject to. According to FINRA, if your previous 401 (k) has a balance of less than $1,000. You could, of course, always ask your ex-employer for permission to put the money back, but I suspect that a rollover from an IRA into a 401 (k) is not permitted. Likewise, you’re less likely to incur a tax penalty this way. m. Providing you are not retiring and are continuing to work, you can continue investing pre-tax funds into your 401 (k) and allowing the principle to grow tax-free, just as you did up until that point. However, this would be considered a "Roth conversion," so you'd have to report the money as income at tax time and pay ordinary income tax on it. Employer-sponsored retirement plans sometimes offer restricted investment alternatives. In a traditional 401 (k), contributions are made pre-tax, whereas in a Roth 401 (k), contributions are taxed up front. IRA plans. an IRA) makes a lot of sense. Over 10 years, at 5%, your initial $100,000 balance would grow to $163,000, compared to the $179,000 it would have risen to if earning the full 6%. Online Access Guides for 401(k) accounts and Equity Awards. 1. My Schwab branch will take a paper rollover check. This should be done automatically with your new brokerage firm but it's best to call them and let them know what you wish to happen. comply with a participant’s instructions to roll over the amount as a direct rollover, and withhold 20% of the distribution if it is not rolled over (as a direct rollover). 2. The 60-day rollover rule is one of the many traps that lie in wait for investors rolling over a retirement account such as a 401 (k) or IRA. 401k To Gold IRA Rollover Guide. And like 401 (k)s, you’ll be penalized for dipping into this account prior to 59 ½. Rollover Crown Equipment 401k into a Rollover IRA. This is where borrowing money from your retirement plan during the 60-day window tax- and. If your plan permits you to roll-over all or some of your 401k account into an annuity, then even though you're not yet age 59-1/2, the roll-over would be tax free. It's then on you to deposit that money into another qualified retirement plan, such as a new 401 (k) or an IRA. Here, we'll discuss four reasons you might want to roll over your 401 (k) today. 401(k) plans and investment choices. Here are some of the most compelling reasons to choose a 401 rollover. Beneficiaries of 529 college savings accounts will be allowed to roll over up to $35,000 total in their lifetime from a 529 plan into a Roth IRA. 8. If you receive the. Rolling your money over into an IRA can reduce the management and. 5. Employee Login Administrator Login. Keep Your Former Employer's 401 (k. For more information you can reach the plan administrator for CUNA Mutual Group at 5910 Mineral Point Rd Madison, WI 53705; or by calling them. Since then, the laws have changed to allow SIMPLE IRAs to receive roll-ins from employer-sponsored retirement plans, like traditional 401 (k)s. That match may offer a 100% return on your money, depending on the 401(k). For CUNA Mutual Group employees wanting to roll over their 401(k) and avoid a taxable event, this option makes sense. I’ve never had an issue, whether bouncing it to an IRA or to a different 401k (I’ve done both). 4. When you roll over a 401k to a Roth IRA, you will owe income taxes on the amount you convert. Keeping your savings in just. It takes no more than two steps—as long as you follow the rollover rules. This involves your 401 (k) provider wiring funds directly to your new IRA provider. Final Thought - 401k to Gold IRA Rollover. 3. Initiating the transfer of funds from your 401(k) to a gold IRA401k Rollover to IRA. If you are a person with a disability and need additional support in viewing the material, please call us at 1-800-343-1113 for. Driven by increased job-switching amid the "Great Resignation," the number of forgotten 401(k). Individuals can contribute up to $6,500 to an account in 2023, and workers. Option #1: Leave it in your former employer’s 401 (k) plan, if allowed by the plan. Leaving your. You may need to set up an IRA first and arrange for your company to transfer funds, or you may receive a check you. Step 3: Contact Fidelity and Ask for a Direct Rollover. If you forgot your login credentials, you can always retrieve them by entering. When you roll over your qualified retirement plan to either a new 401(k) plan or to an IRA, you’ll receive a 1099-R rollover form at the end of the tax year to report the transaction. 1050 Crown Pointe Parkway Atlanta, GA 30338. When you switch jobs or retire, you may have the option to roll over your 401k plan into an Individual Retirement Account (IRA) or a new employer's 401k plan. Dont Miss: Can I Use 401k Money To Start A Business. But they won't take effect until 2026. For this reason, a gold IRA rollover is a great way to diversify your retirement portfolio by purchasing some precious metals. In general, 401 (k) accounts offer better protections from creditors than IRAs. 5. For example, if you have less than $5,000 in your 401(k), your employer can require you to. Otherwise, they might automatically distribute the funds to you directly (if $1,000 or less) or roll the money into an IRA (if between $1,001 and $5,000). Capitalize, a company that helps individuals roll over their employee-sponsored retirement assets, estimates that U. The IRA annual contribution limit is $6,500. A 401(k) rollover into a Roth IRA can help high-income earners save for retirement. 1. Once you’ve made a choice about which account will receive the funds, make sure it’s activated and that you have the account type and account number available. Exceptional customer support. Fidelity, one of the largest brokerages in the U. Register as New User Forgot User ID (Employees) Forgot User ID (Sponsors) Forgot Password (Employees) Forgot Password (Sponsors) Help & Support. If your employer’s 401(k) plan allows you to roll IRA money into it, you can move. First, open a single Roth IRA account at an institution or brokerage of your choice. Driven by increased job-switching amid the "Great Resignation," the number of forgotten 401(k). With a rollover IRA, you can buy low-cost index funds and ETFs. Provide IRA custodian information: Give your old employer’s 401 (k) plan administrator the IRA custodian’s name, address, and account information, so they know where to send the funds. ADP delivers benefits across your business with easy administration and interactive resources to keep employees engaged. Getty. Roll over a partial amount: If your plan allows for partial withdrawals, you might be able to roll over some. , 401 (k), 403 (b) and/or governmental 457 (b) plan assets) within your rollover IRA with annual IRA contributions. The company has a set procedure to follow for rollovers. If you leave your job at age 55 or older, you can start. Beware 401 (k) balance minimums. Step 4: Follow up to make sure that the IRA to 401(k) rollover is complete. There is a point that your contribution may be lower if your MAGI reaches a certain amount, or is completely phased out. It allowed withdrawals of up to $100,000 from traditional or Roth 401 (k) for 2020 only without the 10% penalty for those under age 59½. 00. Augusta Precious Metals: Best customer service. Find out more about the process involved in rolling over an old 401(k) to a new IRA. Alternatively, you may choose to. You're not satisfied with your 401 (k) investment options. ago. The SECURE 2. October 23, 2023. Usually after you leave a company, your old 401 (k) sponsor will send you a letter giving you three options: Leave the plan with the sponsor. Make an informed decision: Find out your 401 (k) rules, compare fees and expenses, and consider any potential tax impact. Roll Over Your Existing 401(k) to a new 401(k) A 401(k)-to-401(k) rollover is a possibility if your new employer also offers a 401(k) plan and the new plan accepts roll-ins. 401(k) To Roth 401(k) Some employers offer both types of 401(k) accounts — check your employer’s plan to see if it’s possible.