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401K
Rollover
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| 401K
Rollover or the Direct Rollover is how you continue to benefit
from the tax-deferred growth of earnings being provided by your
current 401K plan. A Direct Rollover can occur when you change
jobs or retire, and allows all of your 401K plan assets to continue
to accumulate on a tax-deferred basis until you begin your retirement
distributions. |
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| I
need the money. Can I take some or all of the cash now? |
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| Yes,
but if you do take the money now from your 401K, your employer
will withhold 20% of the amount of the distribution. You may
still owe federal income taxes, and depending on where you live,
state income taxes may be withheld as well. In addition, if
you are under the age of 59 ½, you may have to pay a 10% penalty
for early withdrawal. Therefore it is ill advised to take cash
distributions from your 401K Rollover. |
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| According
to the Social Security Administration, 401k savings will provide
one-third of your income during retirement, which is why you
should continue to keep your 401K Rollover fully invested. CLICK
HERE now for a Free booklet called, "IRA When you retire
or change jobs". |
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| Your
401K Plan gave you a powerful benefit--tax-deferred growth of
earnings. When you rollover your 401K to an IRA/Rollover account,
you get to continue the tax deferral benefit. And, since you
do not need to pay income taxes on any potential gains earned
by your IRA/Rollover accounts until you withdraw them at retirement,
your retirement savings can grow faster than a regular taxable
account. |
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| Shares
of Mutual Funds used in an IRA/Rollover account are not deposits
of any bank and are not insured or guaranteed by F.D.I.C. or
any other government agency, and involve investment risk and
may loose value. Investors should ask for and read a Prospectus
carefully before investing. |
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ALL SECURITIES OFFERED THROUGH THE INVESTMENT CENTER, INC., Bridgewater, NJ Member NASD - SIPC
- A REGISTERED INVESTMENT ADVISOR LICENSED IN THE FOLLOWING STATES: CA, CO,
CT, FL, GA, LA, MD, MI, NJ, NM, NY, PA, TX, VA
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