Retiement Plan Rollovers - Get Quotes Now!

401(k) Rollover

403(b) Rollover

457 Rollover

TSA Rollover

TSP Rollover

IRA Rollover

If you are like most Americans who have been saving money through some sort of a company sponsored retirement plan (401k), 403(b), 457, TSA, Simple IRA, etc.) then this section will apply to you.  When you terminate your employment with a company for retirement, career change or disability you are eligible for 401(k) rollover. 

A 401(k) rollover is the process of taking the money from your company sponsored retirement plan and moving it into an Individual retirement account (rollover IRA) that you control.  It is important to make sure that this is done correctly since there are tax consequences and potential penalties involved if done incorrectly. 

Why do they call it a rollover?

The reason the term rollover is used is because you are moving it or "rolling" it into a new account.  All of the accounts listed above (401k, 403b, 457, TSP and TSA) are different types of employer sposored retirement plans.  The only way you are able to take advantage of these accounts is through your employer. 

A 401(k) is offered through a private employer

A 403(b) is offered by schools, churches and non-profit organizations

A 457 is offered by government agencies

A TSP is offered by government organizations as well

A TSA is another type of 403(b)

The problem is once you retire or sever employment you can no longer contribute to one of these plans.  Typically you have the option of leaving your money in the plan for an extended period of time.  The problem however is that if your money is the plan offered by your former employer you have to play by their rules, meaning they can put restrictions on when you can take money out, how you invest it, etc.  This is the exact reason that the government allows you to do a tax free rollover into an account that is similar.  An IRA has the same tax qualifications as the accounts listed above which is why, if done properly will result in a tax free rollover. 

The process of the rolling your money over is quite simple.  First you have to establish an IRA which we can help you with (888-515-7152) and fill out the paperwork given to you by your ex-employer stating how and where you would like your money sent.  This process can typically take 2-5 weeks to process. 

Roll your 401(k) or other retirement plan straight into a fixed annuity, fixed indexed annuity or immediate annuity!

Once you have completed your rollover, most likely you will have a new IRA established and your money sitting in some sort of money market account.  Once this is done it is time to figure out what to do next.  This can depend on a number of different factors but most importantly it will depend on how far from retirement you are.  If you are within 1-3 years of retiring you may want to consider an Immediate Annuity.  If you are further from retirement than that you may want to consider either an Equity Indexed Annuity or a Fixed Annuity.

Immediate Annuities can help get you a guaranteed stream of income for as long as you live without ever worrying about running out of money. 

Equity Indexed Annuities offer a guaranteed rate of return plus the ability to participate in the upside of the market

Fixed Annuities can offer absolute safety by guaranteeing a specific rate of return for a specific time.

Everyone's situation is different.  If you would like to speak with a financial professional please contact us to discuss ways in which we can help.