What happens to UBT retirement when I leave the company?
When you separate employment from an organization utilizing Union Bank & Trust or associated corporate retirement platforms, your vested 401(k) or pension balances remain entirely under your personal legal ownership. You retain multiple strategic choices for managing your accumulated funds: you can leave the assets in the plan if balances exceed mandatory cash-out thresholds, execute a direct tax-free rollover into an individual retirement account with an external financial institution, or transfer the savings into your new employer's retirement plan. Taking an immediate cash distribution is also possible, but it triggers ordinary income taxes and early withdrawal penalties if you are below retirement age.
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