I've been putting in 10% of my pretax paycheck into a deferred compensation account set up through the county since I hired on to the FD full time. I also dumped in my old private 401k as well. I lucked out during covid in that I had accidentally removed it from investing so when the covid market drop happened I didn't lose a dime, and actually gained a ton when the market started to rebound.

My "issue" so to speak is I have recently switched departments and the new one does not use the same county backed deferred comp system as the old one. Instead they have one that goes directly through the city. I assume that in order to transfer funds from the old account to the new, it'll involve selling off the investments at the current price and reinvesting them.

So my question is, am I better off leaving what I currently have where it is for the time being and putting new savings into the new account, or should I pull it and put it in the new account. Or does it not matter at all assuming it's done in a timely fashion by the two agencies. The current account took about a 15-20% hit with everything going on right now.

Does it function like the 401k in the private sector? Where you have a choice of moving it to the new "company/county/city" or to an IRA or an equivalent. If you have the option to go to a self directed option like one does in the private sector world that would be my choice. Pick one of the big firms like Fidelity,Vanguard or Schwab and move it there. The all have a lot more and more efficient investment choices than you have with your current or new employer plan.