IRA Rollovers for Terminated Employees

Have you been let go at work? What happens to the money you have saved in your employee retirement plan?

If you have been terminated by your employer, you have
4 choices when it comes to your retirement plan money:

• Cash it out (and lose part of it to taxes and possible tax penalties)
• Leave the money in the plan (with a minimum balance of $5,000 and only a handful of investment options)
• Roll it into a new workplace retirement plan (with limited investment choices)
• Roll it over into an IRA (with no taxable event occurring, and with the ability to direct the money into many different types of investments)

Consider an IRA rollover. This is a smart move, and I can help you accomplish it. Through a trustee-to-trustee transfer, you avoid the 20% withholding tax that would otherwise be incurred by simply taking a distribution from the old plan and depositing that money in an IRA. 

Want more tax-deferred growth for your retirement savings? An IRA rollover allows that to happen. You get continued tax deferral, you retain personal control over the money, and you can revise or change your investment mix as you wish.

Please reach out if you have something on your mind. The more you study the options, the more you realize that the IRA rollover stands out as the smart choice.

We are here to help. If you have questions or concerns please go to View Calendar & Self-Schedule an Appointment or call 916-833-6100.

Our mission in the Wealth Management business is to provide you with the clarity, confidence, and commitment to achieve your financial goals, giving you a new-found understanding of how much is possible.

^{The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite, LLC, is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.}