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Can I have 2 401(k) plans?

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jonathan asked 4 years ago
My company has been bought by another. The new company will be providing the same 401K plan but using and new provider. Can I retain my old plan in with the old provider and start fresh with the new company’s provider creating 2 plans? 1 with old and no further deposits and 1 with new plan with deposits and match?
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Riia O’Donnell replied 4 years ago
Yes – you can have as many 401(k) plans as you like. You’ll need to keep an eye on them separately – making sure the investment options you’ve chosen for each is current and in line with your financial plans, but there’s nothing to stop you from having multiples and even personal IRA/ROTH plans. Smart investing!

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