The Benefits of IRA Rollover

When you retire or change jobs, you may wonder what to do with the funds held by your employer that you have accumulated for retirement. There are several options available to you, one of those being a Traditional IRA (Individual Retirement Account). Here are some benefits of rolling over your employer sponsored retirement plan funds to an IRA.

  • No Immediate Taxes or Penalties on Direct Rollovers to an IRA. When you roll over your employer sponsored retirement plan assets directly into a Traditional IRA, there are no taxes or penalties assessed to these funds because it is going into a qualified retirement vehicle.
  • Choice of Investments. Rolling over your employer sponsored retirement plan funds into an IRA gives you the flexibility to invest those funds into many different investment options based on your objectives and risk tolerance.
  • Control of Your Money. By having your assets in an IRA, you have the option to access your money should you need it. It’s important to note taxes and penalties could apply if you pull some or all of your funds before the allowable dates. This also gives you the option to select from many different payment options when you access your money.
  • Continued Contributions. In certain situations, you can continue to make contributions to your retirement savings after you retire if you decide to keep earning income after retirement and up until the age of 70 ½ for a Traditional IRA. This allows you to keep saving funds for later in retirement.

Keep in mind Traditional IRAs have contribution and distribution rules, so it is important to discuss your IRA options with a financial advisor. Contact Investment Services to discuss the IRA options available to you.

This information is designed to provide accurate and authoritative information on the subjects covered. It is not, however, intended to provide specific legal, tax, or other professional advice. For specific professional assistance, the services of an appropriate professional should be sought.

Securities and insurance products offered through Cetera Investment Services LLC (doing insurance business in CA as CFGIS Insurance Agency), member FINRA/SIPC. Advisory services offered through Cetera Investment Advisers LLC. Cetera Investment Services LLC and Cetera Investment Advisers LLC are not affiliated with the financial institution where investment services are offered. Investments are: *Not FDIC/NCUSIF insured *May lose value *Not financial institution guaranteed *Not a deposit *Not insured by any federal government agency. Advisory services may only be offered by investment adviser representatives in conjunction with an advisory services agreement and disclosure brochure as provided.