I have a 401k at my job but i am going to relocating and at this new job i have a pension. I can not roll over my 401k to the pension and i can not have two retirement accounts because i will get penalized. Whats the best thing to do with my 401k without getting penalized, i dont want to withdraw my money either because i dont want to get penalized for that either.

You do not add a cash balance 401k into an annuity based pension plan. That is correct.

What is the penalty for having two retirement accounts?

I had 6, then 5, then 6 again, now 5.

You either leave the 401k where it is, or roll it over into an IRA at a brokerage firm.

Just rollover your 401k to an IRA at a mutual fund company. There is no penalty for having an IRA plus a pension. In fact, it is a wise move to have both (not all your eggs in one basket).

There's no penalty for having an old 401K and a new pension.

There is no "penalty" for having two retirement accounts. When one leaves a job with a 401(k), the obvious action is a direct rollover into an IRA.

A $401,000 salary is prett significant. I wouldn't think you even need to worry about pension or possibly even a job depending on how long you were at the last job.

Toll it into an IRA.