401K Rollovers

Our primary goal is to help you make sure that planning for the future is a little less taxing. Our team will assist you in diversifying and protecting your retirement income in the most tax-efficient ways.

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When a participant is leaving an employer where they have a 401(k), they typically have four choices (and they may choose a combination of the options depending on their situation). They may leave the funds in the employer’s plan, if permitted; roll over the assets to a new employer’s plan, if one is available and rollovers are permitted; roll it over to an IRA; or cash out the account.

 

Cashing out the account will have tax consequences and if 401(k) assets are withdrawn prior to 59 1/2 they may be subject to income taxes and penalties. A 401(k) rollover is the process of moving savings from a 401(k) account to a different 401(k) and or an individual retirement account, or IRA. When you roll over your 401(k), you put your money in an account that offers the potential for tax deferred growth and can be astute for retirement savings.