When you retire or change jobs, you have new options for your old 401(k) that can provide continued potential tax-deferred growth opportunities. With a transition of this magnitude, it’s helpful to understand the steps in the process and have a checklist for guidance.

YOUR TRANSITION CHECKLIST

• Contact your former HR department and understand your options
• Consider the pros and cons of those options (See Below)
• Consult a Financial Advisor and develop a retirement income strategy

Now let’s discuss your options. There are 3 main options you will be given the opportunity to evaluate:

• can maintain the tax-deferred status, earn tax-free growth and avoid paying current taxes or penalties
• will be limited to the investment choices in the plan
• will be restricted to the withdrawal rules of the plan

• maintain the tax-deferred status, earn tax-free growth AND avoid paying current taxes or penalties
• be able to consolidate your retirement savings
• add additional investment options
• enjoy more flexible withdrawal options
• potentially lower fees than traditional 401(k) plans

• there are immediate & significant tax consequences
• there are most likely withdrawal penalties
• you will have immediate access to the funds
• you will have 60 days to complete a rollover

1. Open a Rollover IRA with a trusted Firm
2. Complete your Distribution Paperwork to do a DIRECT rollover to your new IRA
3. Consult a Financial Advisor to develop a strategic retirement plan based on your personal financial situation
4. Implement your new strategy and focus on disciplined investing

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