IRA Rollover Opportunities

Over the next several years, approximately 77 million baby boomers will be faced with deciding what to do with their 401K and other savings plans. When making the decision about what to do with retirement plans, it’s important to have a clear understanding of rollover opportunities.

Let’s use IRA plans as an example. An Individual Retirement Account (IRA) is a trust or custodial account created to accumulate funds for retirement. An IRA Rollover is used for retirement assets rolled over from an employer-sponsored retirement plan. It allows funds to transfer tax-free and penalty free from other retirement plans. These funds continue to grow tax deferred until retirement.

Anyone who receives an eligible rollover distribution from an employer-sponsored retirement plan (such as a pension plan, 401K plan, profit sharing plan, stock bonus plan, governmental 457 plan, 403(b), ESOP, or Thrift Savings Plan) can establish an IRA rollover.

If you are making a major change in your life, such as starting a new job or getting ready to retire, we encourage you to give us a call to discuss your financial strategy for the future.