Sign On
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 may think. Let us show you how.
Wells Fargo Advisors offers a number of ways you can work with us.Please keep in mind that rolling over your QRP assets to an IRA is just one option. You generally have four options for your QRP distribution:
- Roll assets to an IRA
- Leave assets in your former employer’s QRP, if QRP allows
- Move assets to your new/existing employer’s QRP, if QRP allows
- Take your money out and pay the associated taxes
Each of these options has advantages and disadvantages and the one that is best depends on your individual circumstances. When considering rolling over your assets from a QRP to an IRA, factors that should be considered and compared between QRPs and IRAs include fees and expenses, services offered, investment options, when you no longer owe the 10% additional tax for early or pre-59 ½ distributions, treatment of employer stock, when required minimum distributions begin and protection of assets from creditors and bankruptcy. Investing and maintaining assets in an IRA will generally involve higher costs than those associated with QRPs. 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
