What if my employer goes out of business and the retirement plan terminates? Am I just out of luck? Is there anything I can do?
Depends if it is a defined Benefit (like a pension) plan or a defined contribution plan? (like a 401(k)). Either way you should be able to get your money. More common with a 401(k) you will be given an option to roll it over to your own IRA. I caution you to roll it over directly between custodians and not take a full distribution and pay all the taxes. If the company plan terminates they should be contacting you to do this. As a default, if you do nothing, they will usually roll it into an IRA cash account for you. | 11.19.15 @ 20:31