You may be aware that you can rollover your 401-K or other retirement plan to an IRA when you retire. But what most people don’t realize is that you may be able to roll it over while you are still employed! This is called an In-Service rollover….(read more)

LEARN MORE ABOUT: IRA Accounts

TRANSFER IRA TO GOLD: Gold IRA Account

TRANSFER IRA TO SILVER: Silver IRA Account

REVEALED: Best Gold Backed IRA

The In-service rollover to an IRA is an important financial tool that can help you save for retirement. It allows you to transfer money from an employer-sponsored retirement plan, such as a 401(k) or 403(b), into an individual retirement account (IRA). This can be a great way to diversify your investments and take advantage of the potential tax benefits of an IRA.

In-service rollovers are often used by those who are still employed, but want to move their retirement savings into an IRA. This allows them to keep their money in the same tax-deferred account, while gaining access to a wider range of investment options and potentially lower fees.

In order to do an in-service rollover, you must meet certain criteria. Generally, you must be over the age of 59 ½ and still employed by the company that sponsors the retirement plan. You must also have a vested balance in the plan that is eligible for distribution.

Once you meet the criteria for an in-service rollover, you can begin the process. The first step is to contact the plan administrator to request a distribution from the employer-sponsored plan. You will need to provide them with information about the IRA you wish to transfer the funds to. Once the distribution is complete, you will need to provide the IRA custodian with the paperwork to complete the transfer.

In-service rollovers can be a great way to take control of your retirement savings and gain access to a wider range of investments. However, it is important to understand the process and the potential tax implications before taking action. Be sure to consult with a financial advisor to ensure that an in-service rollover is right for you.