If you have a 401(k) or a 403(b), you have a couple of different options. If you like the way your retirement account is set up at your former job, you can leave it in your former employment-sponsored plan. You could also take that account and roll it over into the sponsored plan offered by your new employer. Or you could roll over the money from the old account into an IRA.
If you have a 457(b), that question could become more complicated. The most important thing to know about your 457(b) plan is whether it is a “governmental” plan or a “non-governmental” plan. Your asset protection and, probably more importantly, your distribution options are significantly better with a governmental 457(b). A governmental 457(b) can just be rolled over into a 401(k) or IRA when you leave the employer. That makes using a governmental 457(b) a no-brainer most of the time. Some non-governmental plans have poor distribution options, such as requiring you to withdraw the entire 457(b) balance in the year you leave the employer. This can result in withdrawals being taxed at the same or an even higher tax rate than you had at the time of contribution.
What to Do with Your 457 After Leaving a Job