While working, most individuals save for retirement through employer sponsored plans such as 401(k)s, 403(b)s, or 457(s). But when an employee finds a new job or moves into retirement, he or she must decide whether or not to (a) keep the assets in the old employer's plan, (b) rollover the assets over into an individual retirement account (IRA), (c) rollover the assets into the new employer's retirement plan, or (d) withdrawal as cash.
In this post, we make available LPL Financial's Guide to IRA Rollovers from Employer-Sponsored Retirement Plans to explain the PROs and CONs of each of the above options. We are also available to help you and any members of your family through the rollover process.
Here is the link to the file:
Withdrawals from qualified retirement accounts are subject to income taxes, and if made prior to age 59 1/2, a 10% penalty tax may apply.