A few weeks ago I was out having a few drinks with few coworkers during happy hour. One of my coworkers (CW1) noted that in a few weeks he will have been at the company for six months. Another coworker (CW2) remaked that he was then eligible to participate in the company retirement plan. Both of these coworkers are my age, maybe a little younger. The conversation went a little like this…
CW1: Hey, I’ll be at the company for six months in a few weeks!
CW2: Yeah dude, you’ll be eligible for our 401k. (but we have a SIMPLE IRA…or am I just being nitpicky?)
CW1: Yeah that’s cool.
Him: Yeah, I was thinking of rolling over my SIMPLE IRA to a Traditional IRA because I don’t like our investment options. I won’t be eligible to do that until May, though.
CW2: Yeah, my boyfriend works at Morningstar, so he handles all of that stuff for me.
CW1: I don’t have a clue when it comes to that stuff.
CW2: Yeah. You guys watch Battlestar Galactica?