401(k) plans. When you leave a job, willingly or otherwise, you’re likely to have several options for your 401(k):

1. You may be able to leave the money in your ex-employer's plan, assuming you're satisfied with it. However, as an ex-employee, you could be charged additional fees for the privilege.

2. You can roll the money into an Individual Retirement Account (IRA). If you decide to go with a rollover IRA, you’ll generally have just 60 days to make your move. The simplest way is to have your ex-employer transfer the money directly to your new account. Generally, you can also have your ex-employer make out a check to the new account’s trustee (such as a mutual fund) and give it to you for forwarding. Don’t accept a check made out to you, though, or you’ll be subject to 20 percent tax withholding and other hassles. If you have any questions about the procedure, ask the financial institution where your money is headed what it suggests.

3. A third option, if you’ve already landed a new job, would be to move your 401(k) proceeds to your new employer’s plan, if the company permits it.

Whatever you do, fight the temptation to simply cash in your 401(k) unless you absolutely need money now and have no alternative short of committing a jailable offense. Not only would you be subject to taxes and penalties, but you could be severely shortchanging your retirement savings, leading to bigger problems in years to come.

Traditional, defined-benefit pensions. If you’re lucky enough to have one of these with your ex-employer, keep a file or notebook with the relevant information. Notify the plan administrator of any future changes in your address, name, or marital status. Also make sure that your spouse or another trusted person is aware of the pension in case you become incapacitated; if you die, your spouse may be entitled to survivor benefits.

Finally, bear in mind that if your ex-employer’s plan becomes insolvent, you may be covered by the Pension Benefit Guaranty Corporation. It insures many traditional, defined-benefit plans but not defined-contribution plans like 401(k)s. —Greg Daugherty

Greg writes the “Retirement Guy” column each month in the Consumer Reports Money Adviser newsletter.