401(k) Rollovers: The Complete Guide
Whether you're changing jobs or eyeing retirement, understanding your 401(k) rollover options can help you navigate this crucial decision with confidence. Let’s start a conversation to break down what a 401(k) rollover entails, explore your options, and weigh the pros and cons.
For disclosure information, see Thrivent.com/social. There may be benefits to leaving your account in your employer plan, if allowed. You will continue to benefit from tax deferral, there may be investment options unique to your plan, fees and expenses may be lower, plan assets have unlimited protection from creditors under Federal law, there is a possibility for loans, and distributions are penalty free if you terminate service at age 55+. Consult your tax professional prior to requesting a rollover from your employer plan.
Rolling your 401(k) into an IRA when you switch jobs can offer you more investment options, lower investment fees, and greater control of your money.
