rollover IRA
Moved pension account
A rollover IRA is a retirement account created by transferring funds from a former employer's 401(k) or similar plan into an individual retirement account.
The rollover preserves the tax-deferred status of the money: When she left the company, she moved her 401(k) into a rollover IRA.
Direct rollovers avoid tax penalties; indirect rollovers must be completed within sixty days.
- retirementLeaving the workforce permanently
- golden yearsLater life stage
- 401kEmployer-sponsored retirement savings
- employer planJob-based benefit program
- transferMove between locations
direct transfer · contribution · contribution limit · traditional · Roth · investment · portfolio · retirement account · custodian · beneficiary · tax-deferred · tax free · vesting · pension · annuity · brokerage · savings · compound