Why roll over to an IRA?
When you leave an employer, you typically have four options for what do with your savings from a qualified employer sponsored retirement plan (QRP) such as a 401(k), 403b or governmental 457b.
How to roll over
Rolling over is easier than you think. Let us show you how.
Wells Fargo offers a number of ways you can work with us.
Please keep in mind that rolling over assets to an IRA is just one of multiple options for your retirement plan. Each of the following options is different and has advantages and disadvantages and the one that is best depends on your individual circumstances.
- Roll assets to an IRA
- Leave assets in your former employer’s plan, if plan allows
- Move assets to your new/existing employer’s plan, if plan allows
- Take your money out and pay the associated taxes
When considering rolling over assets from a QRP to an IRA, factors that should be considered and compared between the employer plan and the IRA include fees and expenses, services offered, investment options, when penalty-free distributions are available, treatment of employer stock, when required minimum distributions begin and some protection of assets or limited protection and some exceptions apply. Investing and maintaining assets in an IRA will generally involve higher costs than those associated with employer-sponsored retirement plans. You should consult with the plan administrator and a professional tax advisor before making any decisions regarding your retirement assets.
Call us 1-877-493-4727
