Each choice has different advantages and disadvantages in terms of investments, fees, withdrawal rules, required minimum distributions, taxes and protection from creditors. If you have multiple retirement plans, consider all your choices.Footnote 1
As you weigh the pros and cons of each approach, use the information below to help you understand the one that best aligns with your retirement goals. In addition, consider the potential benefits of having all your assets together at one firm as well as any practical reasons you may want to have multiple accounts instead of consolidating them.