401K and Pension Rollovers

Client Centered

When credit union members leave their employer or retire, they can take their retirement plan money with them and transfer the funds into another IRA–called a rollover. Both defined-benefit and defined-contribution plans allow for an eligible rollover distribution. 

Employees who leave an employer sponsored retirement plan may choose to do one (or a combination) of the following:

  • Leave funds in the employer plan
  • Distribute some, or all assets to themselves (pay taxes and potential tax penalties for early withdrawal)
  • Rollover the funds to another qualified plan
    • Rollover to a personal IRA
    • Rollover to a personal ROTH IRA
    • Rollover to their new employer’s plan (if the current plan allows for such transactions)

If you’re not sure which option is best for you and your family, schedule a personalized, private meeting with an advisor today.

Have a Question?

Thank you!