Before you make decisions about your pension distributions, talk to JCB’s Investment Representative.
We can help you find the option that best fits your needs.
In this time of job-changing and downsizing, you may need guidance on what to do with the assets accumulated in your company sponsored retirement plan.
- You may preserve income tax benefits by rolling over into a Rollover IRA
- You may take the lump sum and pay the tax and penalties
- You may even have the option to maintain the account intact until retirement age
What does Rollover mean?
A Rollover moves money from a 401(k) or other qualified retirement plan into an IRA. If receiving a payout from a company-sponsored retirement plan, a rollover IRA could be to your advantage. You will maintain a tax-deferred status on your retirement savings and avoid penalties and taxes (restrictions, limitations and fees may apply).
What is a Direct Rollover Option?
If you choose to have your employer directly rollover your retirement plan payout into a Rollover IRA, you will avoid the IRS withholding tax.