IRA 401(k) & 403(a) Rollovers

**Financial Oversight: Failing to Explore Rollover Options for an Existing 401(k) or IRA**

**IRA, 401(k), and 403(b) Rollovers**

Upon changing jobs or entering retirement, individuals typically have four options regarding their employer-sponsored retirement plan assets, including:

1. Retain the funds in the current plan (subject to the plan’s policies).

2. Withdraw the cash, which may incur income taxes and potentially a 10% federal penalty if you are under age 59½*.

3. Transfer the funds to a new employer-sponsored plan (if permitted by the new plan).

4. Initiate a rollover into an IRA*.

Rolling over your funds into an IRA can unlock a range of options that may not be available within your 401(k) plan**. This can include the ability to establish a guaranteed income for life with assured growth. Moreover, an IRA may permit the “stretching” of tax benefits to your heirs. By transferring from one qualified plan to another, you enable your investments to continue growing tax-deferred until distributions begin during retirement*.

Furthermore, employees who remain with their employer may have avenues to partially or fully roll over their 401(k) into an IRA. Many employers permit partial or full In-Service Withdrawals, enabling employees who have not separated from service to withdraw funds or transfer them into an IRA. Some plans may even allow In-Service Withdrawals before reaching age 59½, while others have provisions for those 59½ and older. The rules surrounding In-Service Withdrawals can vary significantly by employer. Employees are encouraged to consult with their 401(k) provider or retirement plan custodian to uncover the specific options available for rolling over employer-sponsored plan funds into an IRA.

Why not explore secure options with the potential for lifetime income benefits for your 401(k) or IRA rollovers?

Click here for a complimentary, no-obligation financial review with a [item] Benefits Agent.

Alternatively, feel free to reach us at 901-754-2040.

*Please note that we are not tax advisors and do not provide tax advice. Additionally, we are not securities licensed and do not offer securities advice. The decision to sell or liquidate securities rests solely with you. **Investing in an annuity within a retirement plan that allows for tax deferral under specific sections of the Internal Revenue Code does not provide any additional tax advantage. An annuity should be selected to fund a qualified plan based on the unique features of the annuity, apart from tax deferral. All aspects, including risks, limitations, and costs associated with the annuity, should be thoroughly evaluated prior to purchase within a tax-qualified retirement plan.

See our Professional Disclaimer.