401(k) Rollovers

Is a recent layoff or early retirement affecting your retirement assets?

In the current economy, many companies are not only cutting pay and benefits, they’re also reducing their workforces. You or someone you know may be experiencing this firsthand, having to switch jobs or becoming unemployed altogether.

During this transition, if you are considering moving your retirement assets, you must protect the tax advantages of your employer-sponsored plan(s) and IRA(s). Mishandling these asset movements can have potentially disastrous tax consequences. Recent tax court rulings confirm that the IRS generally considers the individual taxpayer to be responsible for making the right decisions, taking the right actions, and accepting any tax consequences that may arise.

Rollovers and transfers offer opportunities to move your retirement assets where you want them, while retaining their substantial tax advantages. At your convenience, we will be happy to discuss these options with you, and help you safely complete such a move.

If you would like to talk to a Planto Roe advisor about how we may be able to help you protect and preserve your retirement benefits, send us an email, and we will contact you shortly.

 1. Allen v. Comm'r, 128 T.C. No. 4, n.5 (03/5/2007)

Advisor does not offer specific tax/legal advice. Consult a tax/legal advisor regarding your specific tax/legal situation.