What is a retirement plan rollover?
An example of an AI chatbot conversation about retirement plan rollovers and their benefits.
What is a retirement plan rollover?
A retirement plan rollover is the process of transferring funds from one retirement account to another without incurring taxes.
Why would I want to do a rollover?
Rollovers can help you consolidate your retirement savings, potentially lower fees, and provide more investment options.
Are there any tax implications I should be aware of?
Yes, if done correctly, rollovers are tax-free. However, if you withdraw funds instead of rolling over, you may face taxes and penalties.
How do I initiate a rollover?
You can initiate a rollover by contacting your current plan administrator and the new plan to get the necessary forms and instructions.
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