I have an old 401k plan that has only a few thousand in it. It's from an old employer that I was with for less than a year way back in 2007 or so.
It's current balance is around 15k (I haven't checked, honestly, that was the last I remember from a statement a while ago).
I have retirement plans I am in, I will get a pension (yay) and lots of other stuff is set. In addition to the retirement fund I have a brokerage account with ~400k in it.
So I have a couple of options:
Cash it out, take the penalty, clear out some old debts I have. Doing this would leave me debt free and putting away some 30% of my income (I am in my 50s).
Roll it over to an IRA
leave it as is.
I am making ~80k now, and for the moment there are no major stresses except the debts (around 5k in CC from a funeral trip).
My instinct is to just cash out, as it's small and just eliminate debts. But I am curious what other people think.