Jump to content

HSA Account & 401 K


MVP444300

Recommended Posts

I have looked at the investment options in my employer's HSA & 401 K plans.  The investments  offered are limited to a handful of mutual funds that have high fees/high turn over. 

 

Do I have the option of moving from the employer selected administrator to another one where I can invest my own funds in individual stocks, bonds, etc like I do in an IRA?    I am not getting any answers from my employer's HR or administrator's CSR department. 

 

Thanks

Link to comment
Share on other sites

I think typically the 401k has to be at your employer and can only be rolled into a different plan/IRA if you depart the company, but might be wrong.

 

You can absolutely have a separate HSA from the one offered through your employer and should be able to transfer funds from your employer's account into your own HSA at any time.

Link to comment
Share on other sites

One factor in favor of using the employer-sponsored hsa might be that contributions withheld from your paycheck are exempt from employment tax withholding.  I think many people fund their employer HSA accounts and then roll  over/transfer the balances at regular intervals if the fees are offensive.

Link to comment
Share on other sites

Thank you all for the comments.  My employer does contribute a certain amount to what I put in so I will keep the account and transfer money over as it deposited in from my paycheck and what my employer matches.

 

I am planning to contact Fidelity as I already have an account with them.

 

So just to confirm, I can't move 401K over to self managed account?

Link to comment
Share on other sites

Thank you all for the comments.  My employer does contribute a certain amount to what I put in so I will keep the account and transfer money over as it deposited in from my paycheck and what my employer matches.

 

I am planning to contact Fidelity as I already have an account with them.

 

So just to confirm, I can't move 401K over to self managed account?

 

bogleheads is usually a good source for this, typically you can't but consult the Summary Plan Description. In theory, you could do a rollover to an IRA but you'd basically be unable to contribute to the 401k going forward.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...