IRA Rollovers App

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Your retirement savings – your way

A rollover IRA lets you move your money out of a previous employer’s retirement plan or other IRA account and into an IRA that you control.

What is a rollover IRA?

A rollover IRA is an easy way to consolidate all of your retirement savings into one account.

The IRS allows for a tax-free, penalty-free rollover of your retirement savings from a previous employer’s qualified retirement plan to an IRA in your name.

Whether you are changing jobs, taking a break from work, or just looking for a new way to invest money you have in an old employer’s plan, a rollover IRA can be a great tool to stay on track for retirement success.

Benefits of a Rollover IRA

Consider Your Options

When you leave an employer, you have options available to you and your retirement savings. Consider all of the options available before you make a decision to rollover your retirement savings. In most cases, the decision to move your retirement account is yours to make.

The info to the right provides a brief explanation of the distribution alternatives that may be available to you.

It’s your retirement – let the funds you saved keep working for you.

Keep your money in your old employer's plan

Pros

  • Tax-deferred growth
  • Avoid early withdrawal penalties
  • Move your savings to another retirement plan or an IRA later
  • Protection from creditors

Cons

  • Limited to the investment options and services offered by that plan
  • May not be able to remain in the plan if your account is less than $5,000
  • You can’t take a loan

Keep your money in your old employer's plan

Pros

  • Tax-deferred growth
  • Avoid early withdrawal penalties
  • May be able to consolidate your retirement assets into one account
  • Protection from creditors

Cons

  • Limited to the investment options offered by that plan
  • May have limits on how you move your money between the investment choices in the plan

Keep your money in your old employer's plan

Pros

  • Tax-deferred growth
  • Avoid early withdrawal penalties
  • Have the flexibility to select an institution and investment options that fit your specific needs
  • Choose a Roth after-tax account, if appropriate
  • Consolidate your retirement assets in one convenient place as you change jobs
  • Protection from creditors
  • Ingham Rollover IRA: no distribution fee will apply

Cons

  • Can’t barrow against your assets
  • Annual fees and /or commissions may apply

Keep your money in your old employer's plan

Pros

  • Immediate liquidation of your account
  • Have greater flexibility to use the assets any way you want

Cons

  • If you are under age 59-1/2, a 10% early withdrawal penalty may apply
  • Distribution is subject to ordinary income tax unless the distribution is taken from a Roth 401(k)
  • You can no longer grow your assets on a tax-deferred basis
  • The long-term earning potential of your account is diminished – which could affect your income at retirement

Did you participate in an Ingham Retirement plan at your workplace or with a prior employer?

If yes, you can seamlessly transfer your plan balance to an IRA. We’ll honor the same fee that you paid in the plan and we’ll waive the distribution fee.

IF YOU NEED HELP UNDERSTANDING YOUR OPTIONS
CALL US AT 866-786-5152

About Us

Established in 1972, the Ingham Retirement Group (Ingham) is a national, independent, full service retirement plan consulting, investment advisory, record keeping & actuarial firm. Ingham’s staff includes an ERISA attorney, CPA, Actuaries, Investment Advisors, Fiduciary Analysts & Compliance Administrators.

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