Portability refers to the ability to move your retirement savings from one account or employer plan to another without losing your money or facing major penalties. This is especially useful when you change jobs or switch from one type of retirement plan to another. For example, you might roll over money from a 401k at a former employer into an IRA or into your new employer’s plan. Portability gives you more control over your retirement savings and helps you keep your investments growing in one place, rather than leaving behind multiple accounts. Most modern retirement plans are designed to be portable, though the process and options can vary depending on the type of account. Being able to transfer your savings smoothly makes it easier to manage your retirement goals over time.