Have you been let go at work? What happens to the money you have saved in your employee retirement plan?
If you have been terminated by your employer, you have
Consider an IRA rollover. This is a smart move, and I can help you accomplish it. Through a trustee-to-trustee transfer, you avoid the 20% withholding tax that would otherwise be incurred by simply taking a distribution from the old plan and depositing that money in an IRA.
Want more tax-deferred growth for your retirement savings? An IRA rollover allows that to happen. You get continued tax deferral, you retain personal control over the money, and you can revise or change your investment mix as you wish.
Please reach out if you have something on your mind. The more you study the options, the more you realize that the IRA rollover stands out as the smart choice.
Before deciding whether to retain assets in a 401(k) or roll over to an IRA, an investor should consider various factors including, but not limited to, investment options, fees and expenses, services, withdrawal penalties, protection from creditors and legal judgments, required minimum distributions and possession of employer stock. Please view the Investor Alerts section of the FINRA website for additional information.
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite, LLC, is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.
IRA Rollovers for Terminated Employees
June 08, 2022