• IRA 401(k) & 403(b) Rollovers

  • Financial Mistake: Not considering options for rolling over an existing 401(K) or IRA.

    IRA , 401(k) & 403(b) Rollovers

    When you change jobs or retire, there are four things you can generally do with the assets in your employer sponsored retirement plan. You either:

    #1-Leave the money where it is (if the plan allows)

    #2-Take the cash (and pay income taxes and perhaps a 10% federal penalty tax if you are younger than age 59½ )*

    #3-Transfer the money to another employer plan (if the new plan allows)

    #4-Roll the money over into an IRA*.

    Rolling your money to an IRA may provide you with more options not available in your 401(k) plan** You may be able to set up your own income for life benefit with guaranteed growth. An IRA also may allow you to "stretch" tax benefits down to your heirs. Rolling over from one qualified plan to another qualified plan allows your money to continue growing tax-deferred until you receive distributions in retirement*.

    Additionally, employees still with their employer may have opportunities to roll part or their entire 401(K) to an IRA. Many companies allow for partial or full In Service Withdrawals, allowing employees that are not separated from service with their employer to take a withdrawal or roll over funds into an IRA. Some plans allow In Service Withdrawals prior to age 59.5. Many others allow for In Service Withdrawals after age 59.5. In Service Withdrawal rules vary per employer. Employees can check with their 401(K) or employer retirement plan custodian for details about what opportunities exist to roll employer-sponsored plan money over to an IRA.

  • Why not consider safe options with potential lifetime income benefits for your 401(k) or IRA rollovers? 

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    *We are not tax advisors and do not give tax advice. We are not securities licensed, and we do not give securities advice. We never recommend the sale or liquidation of securities. Any decision to liquidate securities is your own decision. **Purchasing an annuity within a retirement plan that provides tax deferral under sec-tions of the Internal Revenue Code results in no additional tax benefit. An annuity should be used to fund a qualified plan based upon the annuity's features other than tax deferral. All annuity features, risks, limitations and costs should be considered prior to purchasing an annuity within a tax-qualified retirement plan.

    See our Professional Disclaimer