Benefits

Your money can continue to grow tax–deferred.

You expand your investment choices beyond your plan’s options.

You control your money — no plan rules or restrictions.

You can consolidate multiple retirement accounts.

You can make your own contributions to your rollover IRA.

Benefits

Your money can continue to grow tax–deferred.

You have your retirement assets conveniently consolidated with one provider.

Keep in mind

Roth 401(k) or 403(b) accounts will be rolled into a Roth IRA. Non-Roth accounts can be rolled into a traditional IRA or, if certain eligibility rules are met, into a Roth IRA. Rollovers to Roth IRAs from non-Roth accounts are taxable.

Make sure the rollover funds go directly from your old plan’s trustee to the rollover IRA’s trustee or custodian to avoid having income tax withheld on the taxable portion of your distribution.

Keep in mind

The plan may not accept certain types of rollovers from other plans, or Roth or after–tax money.

Make sure the rollover funds go directly from your old plan’s trustee to your new plan’s trustee to avoid having income tax withheld on the taxable portion of your distribution.

There may be a waiting period before you can move your money into your new plan.

Your investment options are limited to what is offered in your new plan.

You’re subject to the rules and restrictions of your new plan.