401K Rollovers

Life Insurance

401K Rollovers

A 401(k) rollover is a process that allows you to transfer funds from your previous employer's retirement plan, such as a 401(k), 403(b), or a governmental 457(b) plan, into an Individual Retirement Account (IRA) or another employer-sponsored retirement plan. By initiating a rollover, you gain greater flexibility and control over your retirement savings.

Benefits of 401K Rollovers

  1. Consolidation: By rolling over your old 401(k) into a new account, you can simplify your retirement savings by having all your assets in one place, making it easier to manage and monitor your investments.
  2. Expanded Investment Options: Many employer-sponsored retirement plans have a limited selection of investment options. By rolling over into an IRA, you can unlock a broader range of investment choices, including stocks, bonds, mutual funds, and more, tailored to your individual investment goals and risk tolerance.
  3. Flexibility and Control: With a 401(k) rollover, you gain more control over your retirement savings, allowing you to make investment decisions that align with your personal financial strategy. Additionally, you can change investment providers or choose a self-directed IRA to have even more control over your investments.
  4. Potential Tax Advantages: Depending on your circumstances, a 401(k) rollover may offer tax benefits. You can explore options such as a direct rollover to avoid immediate tax consequences or a Roth IRA conversion to potentially enjoy tax-free distributions in retirement.

Annuities/401K Rollover Carriers

  • Corebridge formerly AIP
  • Equitable