My wife, who will be 69 next year will be rolling over all but $1,000 from her still active 401k to her FIDO Ira. Which will go into Bank CDs as soon as it is rolled over.
She still will contribute bi monthly to her K and receive the matching contributions from her employers until the tax deferral is killed.
I sent a note, re the possible dropping of the Federal guarantee on the money market funds in December(where my wife has all of her 401k) to her personnel director. Apparently, that got several people in her organization thinking about what to do with what they have left. Many over 59.5 will be consulting with their tax consultants re options.
The slaughter of 401l’s has been on the back burner of lib think tanks for years.
Certain key words phrases have been used by them and their trolls here on FR.
Like investments in our 401ks is not savings, which is one of their main thrusts.
Means testing re social security and probably now with the rollover from 401k’s to the Fed Retirement/Social Security paper bs, will become more than a buzz phrase.
We need to stay on top of these events and monitor and decode their verbage very closely.
I don't get any matching funds. (That's a sweet deal while it lasts, BTW.) I'm about to end the monthly 'contribution'.