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Rollovers
What is a direct rollover?
A direct rollover is the tax-free movement of retirement plan assets directly into the IRA of the person receiving the payout. DIRECT means that your retirement plan assets would be paid to a select investment for the benefit of your IRA.
Are direct rollovers always tax-free?
YES. A properly conducted direct rollover is always a tax-free transaction. Choosing a direct rollover is often the only way to avoid mandatory federal and state income tax withholding on your retirement plan payout.
Why should I choose a direct rollover?
There are many benefits to conducting a direct rollover. As a direct rollover keeps your retirement asset tax-deferred. Probably the most significant benefit to conducting a direct rollover is that you hold the contract and control the asset personally, not a third party administrator.
What happens if I die before withdrawing my retirement plan dollars?
If you die before withdrawing your retirement plan dollars and your spouse is beneficiary, he or she may be able to roll the amount into his or her own IRA.
Direct Rollovers are a smart choice. We can assist you and your administrator in completing the proper direct rollover forms allowing you to retain control of your retirement dollars.
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