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Rollover IRAs

A Rollover IRA allows you to consolidate retirement dollars from a number of sources, such as lump-sum distributions from pension, profit-sharing, 401(k), 403(b), or governmental 457 plans, or transfers from other IRAs. There is no rollover amount limit.

By electing a “direct” rollover, your retirement assets will transfer with no current tax consequence, allowing you to preserve the tax-favored potential and long-term benefits of your retirement dollars. If you do receive a distribution, the rollover must be completed within 60 days of the initial distribution.

Like a Traditional IRA, taxable withdrawals taken from a Rollover IRA before age 59½ are subject to tax penalties, and distributions must begin at age 70½.

Western & Southern Life does not provide tax or legal advice. Please contact your tax or legal advisor regarding your situation.

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Last Updated: 9/18/2017