We're here to help:
Moving from one job to the next doesn’t mean you have to bring along your previous retirement accounts. Instead of managing multiple accounts, consolidate them into one, easy-to-manage account with an IRA Rollover. You’ll streamline your retirement accounts and keep your money growing tax deferred.*
- Designed to hold funds rolled over from an employer plan
- Keeping the assets separate from other IRAs may allow you to roll the funds into another employer plan at a later date
- Heirs may also benefit from tax-deferred growth
- Earnings grow tax deferred*
What is a Rollover IRA?
A Rollover IRA is an account that allows you to transfer funds from an employer-sponsored retirement account into a Traditional IRA or a Roth IRA. You might consider rolling over your plan after changing jobs to maintain the tax-deferred status of those assets, consolidate your accounts, and/or take advantage of better investment choices.
Rollover IRA Rules
The most important guideline when rolling over an IRA is the 60-day rule: When an account holder receives a check from their existing retirement account, they must deposit the funds into the new IRA within 60 days. If the funds are not moved within the 60 days, it will be treated and taxed as income, and if you’re under 59 ½, you will be subject to a 10% penalty.
Before deciding to rollover your employer-sponsored plan into an IRA, you should consider various factors including, but not limited to: investment options, fees and expenses, services, penalty-free withdrawals, and the effects on protection from creditors and legal judgments, required minimum distributions, and employer stock.