In today's modern economy people are changing jobs more often. Here are 5 steps that will
help make your transition a smooth one.
1. Make sure you understand your new companies benefits. You will want to sign-up for the
short-term and long-term disability options if they are available. If thee is a group life
insurance policy you will want to be sure and fill in the beneficiary information even if you
are not married! If you have a choice with health insurance plans, make sure your doctors
are on the plan you choose.
2. Sign up for the 401k plan and make sure and withhold enough from your paycheck to get
the full company matching contribution (this can be an additional 3-5% of your salary).
Pick an investment allocation that is appropriate for your age and risk level.
3. Evaluate your options for your former retirement plan. Generally speaking, you can leave it
with your former employer, move it to your new employer plan, or roll it over to an IRA.
There are benefits to all three options depending upon the plan expenses and investment
4. Make sure you take all of your personal and professional contacts with you! Update your
LinkedIn profile and make sure you have your personal email address as your primary
5. Meet with your financial advisor to review your new company benefits as well as the
options for your former company retirement plans.
Changing jobs is a very busy and exciting time so you want o make sure you take care of
yourself when signing up for your new benefits. Make sure you take enough time to
familiarize yourself with your new benefits and that you have gotten signed-up for
everything you want.