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Beyond Taxes: 401(k) Rollovers

Beyond Taxes: 401(k) Rollovers

| March 01, 2024
What can we plan together?

Thinking of changing jobs or already making the transition? Even under the best circumstances, making a career move requires a series of tough decisions, including what to do with the money in your retirement plan.

Rolling over the assets in your workplace retirement plan to an IRA can be a great move. However, making a rollover mistake can have a dramatic impact on your income in retirement. For example, if you personally receive the funds from your 401(k) or other workplace savings plan and fail to move them into an IRA within 60 days, your assets will lose their tax-deferred status.

Clearly, it’s important to handle your hard-earned retirement savings with care. Please reach out if you have any questions about how to initiate an IRA rollover or would like to discuss the advantages of consolidating your retirement assets in one easy-to-manage account. We can talk about strategies outside of tax planning to assist with these types of decisions.

For a comprehensive review of your personal situation, always consult with a tax or legal advisor. Neither Cetera nor any of its representatives may give legal or tax advice.

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.