A direct rollover is the movement of retirement assets from an employer retirement plan or similar plan directly into another retirement plan, such as an IRA. Direct rollovers typically occur when there is a change in employment or another triggering event that causes the investor to want or need to move money out of their old employer retirement plan into an IRA.
Is A Direct Rollover Right For You?
Generally, a triggering event is required to move an employer-sponsored plan. However, before you start the process, it is best to review your investment options, fees and expenses, possibility of any penalties, minimum distribution requirements and employer stock.
When you're moving assets from one plan to another, it's imperative you understand all of your options to make efficient tax decisions and avoid penalties. For more information, download a Direct Rollover IRA form, initiate the rollover online, or call a Janus Henderson Retirement Specialist at 800.525.1093.