401k Rollover · Rollover IRA
If you Change Jobs or Retire you are eligible to transfer the company retirement plan funds to a Rollover IRA. This transaction is known as a 401k Rollover.
You can also combine multiple retirement plans into one Rollover IRA, while keeping the Tax-Deferred status intact. In most cases, there is no tax consequences for a rollover transaction if completed within 60-days.
The Rollover IRA account is eligible for contributions and ongoing tax benefits. The account can be maintained as Traditional IRA or converted to a Roth IRA (see details on Roth IRAs and Traditional IRAs).
In accordance with a fiduciary standard it is prudent to consider the pros and cons of a retirement plan rollover.
Investors considering rolling over assets from a Qualified Employer-Sponsored Retirement Plan (Employer Plan i.e. 401K) to an Individual Retirement Account (IRA) should scrutinize all options as well as the Advantages and Disadvantages of each prior to initiating the rollover. Plan Participants should consult their attorney and/or tax professional prior to execution of any rollover transaction.
Clients are under no obligation to rollover Employer Plan assets to an IRA maintained or supervised by an Investment Advisor.
Avenue Retirement Services, LLC has a duty to act in the "best interest" of clients when providing advice with respect to the retirement assets. Simply put, this means your Investment Advisor must act with the care, skill, judgment, and diligence that a prudent person would exercise based on the given circumstances. Investment Advisors must determine the Investment Objectives, Risk Tolerance, Financial Circumstances, and Income Needs of their Clients. Any advice given must aslo be made without regard to financial interests of The Firm, IAR, or any of their affiliates.
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