IRA Rollovers
Rolling over to an IRA is the act of funding an IRA with assets moved from an existing tax-qualified retirement account, without penalty or tax withholding, for continued tax-deferred growth potential.
Rolling over to an IRA allows you to consolidate and gain more control over your retirement assets, and take advantage of other potential benefits such as greater diversification, increased flexibility, and better guidance and service. And although ordinary income taxes do apply, you may also take penalty tax free distributions from an IRA before age 59½ for certain other purposes, such as a first-time home purchase or qualified educational expenses.1
Opening a Rollover IRA
You can rollover money from an employer retirement plan (profit sharing, pension, 401(k), Roth 401(k), Roth 403(b), etc.) to an IRA if you experience one of the following triggering events as permitted by the plan:
- Attainment of 59½.
- Disability.
- Change of employer.
- Plan termination.
- Retirement.
- Death.
- Divorce.
You may also roll over or transfer assets from most traditional, Roth,2 SIMPLE and SEP IRAs into a Thrivent Financial IRA.
Take the Next Step
Want to learn more? Contact a Thrivent Financial representative today to learn how rolling your other accounts into one IRA could help support your retirement strategy.
Thrivent Financial for Lutherans, and its respective associates and employees cannot provide legal, tax or accounting advice or services. Work with your team of professionals, including your Thrivent Financial representative, your attorney and tax professional to determine and implement the appropriate option.
1 Must be first time home buyer, up to $10,000.
2 A Roth IRA can be rolled only into a Roth IRA.
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