I switched for an individual 401(k) plan with E*TRADE to a "regular" (I'm not even sure what one would call it) plan with Slavic since I now have statutory employees. Slavic had me sign the amendment and will be requesting an asset transfer from E*TRADE (but the plan administrator is me, so I think they are going to request it from me and I initiate the transfer), but it occurs to me that I prefer not to transfer the assets, if that's an option, because Slavic has an AUM fee under their plan.
Is this allowed? Can I keep assets in the E*TRADE accounts even though the plan is now with Slavic? I'm guessing the answer is "no", but hoping some of our ERISA specialists may know for sure.
Switching 401(k) providers (plan amendment)--do I have to transfer old assets?
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