IRA Rollovers
A rollover IRA is a retirement account funded by moving existing tax-qualified retirement assets into an IRA, without penalty or tax withholding, for continued tax-deferred growth potential.
Many rollover IRA owners and beneficiaries find that they like being able to consolidate and gain more control over their retirement assets, and take advantage of other benefits such as diversification, flexibility, and guidance and service. And although ordinary income taxes do apply, they also like the ability to take penalty tax free distributions before age 59½ for other purposes, such as a new home purchase.1
Opening a Rollover IRA
You can open a rollover IRA with money from an employer retirement plan (profit sharing, pension, 401(k), Roth 401(k), 403(b), etc.) 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
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.1 Must be first time home buyer, up to $10,000.
2 A Roth IRA can be rolled only into a Roth IRA.
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.
200905425