What happens to my AIG Retirement account if I change jobs?

When an individual changes jobs, they have several options regarding their AIG Retirement account. Typically, one of the most common actions is to leave the funds in the existing retirement plan. This allows the account holder to maintain their savings without incurring penalties or taxes. However, they may not be able to contribute further to that account once they are no longer employed by that company. Another option is to roll over the funds from the AIG Retirement account into a new employer's retirement plan, provided that the new plan accepts such rollovers. This can help consolidate retirement assets and make it easier to manage savings. Individuals may also choose to roll over their AIG Retirement account to an individual retirement account, commonly known as an IRA. This option provides flexibility in terms of investment choices and withdrawal rules. Lastly, cashing out the retirement account is an option, but it is generally not recommended due to potential taxes and penalties associated with early withdrawals. It is advisable to consider all options carefully and understand the potential implications for retirement savings. For detailed guidance specific to individual situations, it may be helpful to visit the AIG Retirement website where additional resources and contact information can be found.