Distributions from Your 401(k) at Retirement
Rollover to a Traditional IRA
If you don't need your retirement money in a hurry, rolling it over into a traditional IRA may make sense. Instead of putting the money into a bank account and paying tax on the earnings, you can defer taxes on both the contributions and the earnings if you put the money in a traditional IRA. It is to your advantage to make it a direct rollover. This way, you don't have to get involved in the transfer and no taxes will be withheld.
Investments and Insurance products:
|NOT FDIC INSURED||NOT BANK GUARANTEED||MAY LOSE VALUE|
|NOT A BANK DEPOSIT||NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY|
Securities and advisory services are offered through Santander Investment Services, a division of Santander Securities LLC. Santander Securities LLC is a registered broker/dealer, Member FINRA and SIPC and a registered investment advisor. Insurance is offered through Santander Securities LLC or its affiliates.