locate a financial professional

IRA Accounts

A rollover IRA can help keep your retirement funds tax free when you change jobs or retire. A rollover IRA is an Individual Retirement Arrangement account where you keep your investment until you are ready to retire. You may transfer the money from an employer sponsored retirement plan such as a 401k or 403b to an IRA Rollover account when you change jobs or retire.

Find out more information about a IRA rollover by contacting a retirement professional. Find local IRA rollover assistance professional in your area.

The benefits of a rollover IRA are that you can continue growing your retirement plan assets on a tax-deferred basis, it is possible to avoid penalties for prematurely withdrawing your retirement funds, you can distribute your money to a large number of investment options within the IRA, and you generally have more opportunities to match your investment to your particular risk tolerance, time frame, and retirement objectives.  When seeking assistance with an IRA rollover, it is useful to consider the following:

  • Retirement Planning
  • 401K or 403b to IRA
  • Benefits of a Rollover IRA
  • Direct Rollover to IRA
  • Taxation
Depending on your tax bracket, you may owe more or less in taxes than the amount withheld. The distribution may also be subject to a 10% early distribution penalty. A direct rollover from the retirement plan to a rollover IRA can help you avoid this.

A direct rollover is simple but may require the help of a financial professional to ensure you are maximizing your investment opportunity while minimizing your taxation and investment risks.  The steps are to open a rollover IRA, contact your Plan Administrator, request that your current funds are directly rolled over to your rollover IRA, and fill out any necessary forms to complete the rollover.  Your employer will then pay out the distribution directly to your rollover IRA or issue a check to you. It's important you deposit this check immediately to your rollover IRA. Generally, any distribution not rolled over to another qualified retirement plan or IRA within 60 days of receipt of the funds may be subject to income taxes and penalties.  And you may also lose your chance to move your money to a rollover IRA.

It is unfortunate that a lot of people take unnecessary losses and penalties by withdrawing the funds, which can severely impact your quality of life if you are currently retiring or it can set your retirement back years if you are still planning for it.  Contact a professional financial planner today to minimize any unnecessary risk.

Are you worried about your IRA rollover?  Minimize any unnecessary risk by contacting a local finance professional in your area who can provide IRA rollover assistance.