We specialize in all aspects of retirement benefits planning and offer a tailored approach to help you achieve financial piece of mind.
Pension Payout Analysis(Annuity vs. Lump Sum, Survivor Benefits, Timing)Specialized NUA AnalysisSupplemental Incentives AnalysisExecutive Benefit Plan AnalysisRoth Conversion AnalysisCash Flow Planning & Tax-Efficient StrategiesIn-House Tax Planning Social Security MaximizationEstate Planning & Multi-Generational PlanningHealth Insurance & Medicare GuidanceLong-Term Care Insurance Options & AnalysisIf you are changing jobs, or getting ready to retire from work, you are probably considering options for your 401(k) plan assets. Chances are you will consider leaving your plan with your current employer; rolling (or moving) your assets to your new employer or “rolling over” your assets to an Individual Retirement Account (IRA).A 401(k) rollover refers to the process of transferring or moving your assets to an IRA or another tax-advantaged retirement account. A rollover typical happens when you change jobs or retire. It is also a great way to consolidate your accounts if you have multiple 401(k) plans or IRA’s.
When leaving a job, there are key factors to consider regarding 401(k) rollover rules. The administrative fees, range, and quality of your investments compared to an individual retirement account (IRA). A rollover has its own rules that should be clearly understood.You have 60 days from the date you receive a retirement plan or individual retirement account (IRA) distribution to roll it over to another plan or IRA. Failure to meet the 60 day rollover time-period may result in penalties and additional taxes.
If you are switching jobs, you may move your retirement savings from your previous employer to your new employer; dependent on the new employer’s plan provisions. Rolling your account to a traditional individual retirement account (IRA) allows flexibility in managing your savings. Rolling your account to an IRA helps you continue to save for your retirement. When considering your options to leave your assets with a former employer, review your options with a Fiduciary Registered Investment Advisor to help you make a decision that is in your best interest.