We help to make rolling over an old retirement savings plan from a former employer easy for you.
Now that you and your employer have parted ways, you have options regarding your 401(k) account. U.S. Bank and U.S Bancorp Investments can help you take advantage of a rollover to an IRA. A rollover may not only help preserve the tax-advantaged retirement earnings you've worked so hard to build, but may also help you put the money to work for your future and your family.
Other options include cashing out your 401(k), leaving the money in the former employer’s plan or rolling it into your new employer’s plan.
If you hold multiple retirement accounts at one or more institutions, consolidating them all into a single IRA account may help simplify the management of your retirement savings.
An IRA rollover may provide you with the freedom to invest your money your way. Like a 401(k), an IRA has the potential to help keep retirement money growing tax-deferred, but with two possible advantages – flexibility and control.
The potential benefits of rolling your employer retirement plan assets to an IRA can include:
With an IRA at either U.S. Bank or U.S. Bancorp Investments, you can help you choose from many investment options, and you'll have the ability to easily monitor and make changes as your needs and goals change. A rollover of qualified plan assets into an IRA is not your only option. Before deciding whether to keep an existing plan, or roll assets into an IRA, be sure to consider potential benefits and limitations of all options. These include total fees and expenses, range of investment options available, penalty-free withdrawals, availability of services, protection from creditors, RMD planning, and taxation of employer stock. Discuss rollover options with your tax advisor for tax considerations.
Individuals who have changed jobs or retired and have left savings in a former employer’s plan may be eligible to roll retirement savings to their new employer’s workplace savings plan [i.e., 401(k), 403(b), governmental 457(b)] or to an IRA.
To roll funds from an old 401(k) account into an IRA, you’ll need your account number(s) and recent statements. If you don’t have that information on hand, contact your former employer. In addition, you’ll need to complete required paperwork from your former employer, and paperwork to establish your rollover IRA at either U.S. Bank or U.S. Bancorp Investments.
IRAs and Retirement Plan Services
The right investment tools may play a critical role in working toward your retirement goals. Compare the potential tax advantages of Individual Retirement Accounts.
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“Call to Invest” and “Invest on Your Own” are services offered through U.S. Bancorp Investments.
Investment products and financial services are provided through U.S. Bank and/or its affiliate, U.S. Bancorp Investments.
U.S. Bancorp is the parent company of U.S. Bank and U.S. Bancorp Investments.
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This information represents the opinion of U.S. Bank and/or U.S. Bancorp Investments and is designed to be educational and informative. The views are subject to change at any time based on market or other conditions and are current as of the date indicated on the materials. This is not intended to be a forecast of future events or guarantee of future results. It is not intended to provide recommendations and/or specific advice concerning retirement accounts or investment planning. It is not intended to be construed as an offering of securities or recommendation to invest. Not for use as a primary basis of investment decisions. Not to be construed to meet the needs of any particular investor. Not a representation or solicitation or an offer to sell/buy any security. Investors should consult with their investment professional for advice concerning their particular situation.
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