Job hopping is one of the best ways workers have to increase their pay, and a surprisingly solid job market means they still have opportunities. That’s great news for workers, but remember: Make sure you’re setting aside as much into your new 401(k) plan as your old one.
When a worker moves to a new job, they have to take the extra step of signing up for their new employer’s 401(k) plan and deciding how much of their paycheck to contribute. Otherwise, if they’re lucky, they’ll end up getting automatically enrolled into the plan and contributing whatever the employer decided as the default percentage of pay.
