summit-bracket2 bracket2 atm-outline location-pin-outline location-pin-filled atm-filled calendar2 bracket google-play[2] app-store summit-location-pin-lg code lock user worksheets phone print programs open pdf checkmark-form close-x close download checkmark-chart checklists blog-tools social-facebook social-google-plus social-pinterest LInkedIn-2C-128px-R instagram-rainbow social-twitter social-youtube ehl calendar calculators bracket22 checkmark email text-area-corner external-link success error information warning calendar-add-event auto-rates mortgage-rates home-equity new-certificates ncua summit-logo-itmoi arrow-left arrow-right checkmark2 summit-logo-white summit-bracket silhouette arrow-down arrow-up auto-rates2 blog calculators2 call ehl2 home-equity2 itmoi locate mortgage-rates2 new-certificates2 programs2 search summit-location-pin-sm tools clock

Job Change? Don't Ignore Your Retirement Plan Dollars

summit financial advisors blog

A Message from Summit Financial Advisors

It is probably one of your biggest assets.  Don’t ignore it.  People change jobs all the time, but many forget some important details – like their retirement plan money and leave it in their old employer’s sponsored pension or 401(k) plan. 

Could this be you?  If so, you really owe it to your future to consider where to put the retirement assets you’ve worked so hard to build up.  The wrong move could cost you thousands and greatly affect the quality of your retirement years. 

One option is to consider moving over any retirement plans from a former employer into an IRA. 

Benefits include:

  1. Simplicity – Consolidate your retirement assets into one IRA.  It will simplify your record keeping and give you a better picture of your overall portfolio.
  2. Eliminate Investment Overlap:  Having several accounts can have you holding many of the same type of investments in each account, and cause you to be out of balance for your set of financial circumstances.
  3. Wider Array of Investment Choices - It is very common for employer plans to have only a few investment options. Rolling assets into an IRA will literally give you thousands of investment choices.
  4. Roth Conversions - Once your plan is rolled into a traditional IRA, you may be able to convert it to a Roth IRA. 
  5. Beneficiary Distribution Options - Many employer plans have very limited and rigid beneficiary distribution options, especially for non-spouse beneficiaries. Rolling your assets into an IRA offers many additional flexible distribution pay out options, such as the "Stretch IRA"(paying out the death proceeds over multiple generations of beneficiaries).

Need help deciding what option is best for you?  Contact Summit Financial Advisors serving the members of Summit Credit Union at 800-236-5560, Ext. 4012 for a no-cost, no-obligation Retirement Assets Consultation.  Today is the best time to get started!

Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (866) 512-6109. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members.

B2MM-0405-24A3 (1112)