Have you found yourself in this situation?
You’ve changed jobs a few times and have money in your former employers’ retirement plans and a long-forgotten individual retirement account (“IRA”). You need to manage and keep track of the investments and the balances in those accounts.
….it might be easier to organize everything in one place.
A direct “rollover” from your former employer’s plan or IRA to the ABA Retirement Funds Program (“Program”) does not result in an income tax bill as long as the rollover is conducted in accordance with IRS rules.
Why Consolidate?
- With fewer accounts to manage, you can quickly and easily review what you have and implement your retirement strategy.
- Having your retirement savings in one place means one statement to review, one online ID and password to remember, as well as one point of contact if and when you need support. Remember if you have multiple retirement plans, you’ll need to keep your beneficiaries up to date for all accounts.
- With one account you would need to only utilize one suite of online retirement planning tools to help manage your retirement savings.
Is a rollover into your Program account right for you?
You can call and speak with a licensed financial professional at 844.253.8692.* The professional can walk you through your choices and compare fees, investments, and other plan features. There’s no cost, no pressure, and no obligation to buy any products or services.
Taking into account your personal situation, you may want to consider your options, such as: keeping your assets where they are; withdrawing your assets (taxes are generally due upon withdrawal and any applicable tax penalties that may apply); or you may choose to rollover your assets to an employer-sponsored retirement plan that accepts rollovers, or to another eligible vehicle.
* Investment adviser representative and registered representative of, and securities and investment advisory services offered through Voya Financial Advisors, Inc. (member SIPC).
