401 K Rollover

//401 K Rllover

Get the Best 401(k) Rollover Assistance

A 401k retirement plan is a particular type of account funded through pre-tax payroll deductions. The account funds can be invested in several different stocks, bonds, mutual funds, or other assets and are not taxed on any capital gains, dividends, or interest until they are withdrawn. But often, people find 401k limited in terms of options for investment. And especially those who are thinking of retiring or switching jobs may want a whole IRA instead of 401k. At Powell Benefit Group, we walk you through the full process of 401(K) Rollover.
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Complete Process of Rolling Over Your 401(k)

Some keys steps need to be taken while rolling the 401k so that there are no extra taxes and fees. If you make a small mistake, it may end up costing you big. And if the process is followed correctly, you can successfully get all the funds in your new individual retirement account (IRA). The steps of rolling over are:

    • Decide what to rollover
    • Notify your 401k provider beforehand
    • Open an IRA account
    • Start the rollover process and get forms filled within the time limit
    • Get the funds clear and get a cheque
    • Deposit the cheque in your new account
    • Choose the new investment options and have all funds in one IRA

Beneifts of 401(k) Rollover

All Your Retirement Savings in One Place

You can easily manage all the funds when they are in one place, and you won’t have to worry about checking separate places for the same thing

Keep the Tax Advantage

Apart from having ease in management, getting a rollover offers you to keep the retirement income tax-free.

More Flexibility and Trackability

When you have an IRA after 401k rollover, you get total flexibility in terms of investment options. And the list becomes much more vast compared to standard 401k.
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