Depending on your circumstances and the plan's rules, options may include leaving the assets in your former employer's plan, moving them to an eligible new employer's plan, rolling them into an IRA, or taking a distribution. Each option can have different investment, fee, tax and other considerations, so it's important to understand the differences before making a decision.

Retirement does not necessarily mean you must immediately move your 403(b). Depending on the plan and your circumstances, you may be able to leave the assets in the plan, move them to another eligible retirement account, establish an income strategy or consider other available options.

In many circumstances, an eligible 403(b) may be rolled into an IRA after retirement, separation from service or another qualifying event. Before doing so, it's important to compare factors such as investment choices, fees, services, withdrawal provisions and other features of each option.

Consolidation can make retirement accounts easier to track, but convenience alone shouldn't determine the decision. Investment options, costs, services, withdrawal rules, tax considerations and other features should also be evaluated.