Businessweek Archives  Steer Clear Of The Rollover Wringer
BusinessWeek Investor: Retirement Plans  Steer Clear of the
Rollover Wringer  Lots can go wrong when transferring a 401(k)
It's supposed to be a cinch. Make a phone call, fill out a form,
and presto!-- your nest egg is safely transported from one
employer's retirement plan to the next. "Most times it takes
about 15 minutes to take control of your 401(k)," claims a
recent ad from Fidelity Investments. But rest assured, with $127
billion and a heap of paperwork changing hands every year, it
takes but a few seconds to get tangled in the rollover
runaround.  As if changing jobs weren't stressful enough. That's
when you decide whether to keep your retirement money in your
former employer's 401(k) plan, move it to a new plan, or roll it
into an individual retirement account. Lots can go wrong: You
can be involuntarily cashed out, get hit with early-withdrawal
penalties, or miss out on market gains because of delays.
Tracking transfers wired to the wrong a