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    An IRA Rollover is a tax-free transfer of funds from a tax-deferred plan, such as a 401(k) plan, Thrift Savings Plan, Defined Benefit Plan, 403(b) Plan, etc., to a traditional IRA. An IRA Rollover can be done when an employee changes jobs, is laid off or retires and is entitled to a distribution from the old employer’s 401(k) plan or other Qualified Retirement Plan. By doing an IRA Rollover, the funds can be transferred tax-free to the employee’s own IRA. This means the funds can continue to grow on a tax-deferred basis inside the IRA. It also means that the funds are under the complete control of the employee with respect to investment decisions and future distributions.
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