Allowable Rollover Transactions

What are my rollover options?

A rollover is a direct (from one plan trustee to an IRA or second plan trustee) or indirect (from a plan trustee to you, and then to an IRA or second plan trustee) tax-free transfer of assets from a retirement plan to another plan (at a new employer) or to an IRA.

Rollovers encourage retirement savings by allowing your money to continue growing tax-deferred in the IRA or new plan. With an indirect rollover, your old plan administrator must withhold 20 percent of the distribution to you for federal income tax. (You can claim the amount withheld as a credit on your federal income tax return.) 

Here is a great chart from the IRS website that details your available rollover options.

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Click here to start a rollover request.