401(k)/IRA: Wurm & Frye Wealth Management


Simplified 401(k) and IRA Rollover Options

How you manage and invest your old workplace retirement plan assets can significantly impact your retirement income. Wurm & Frye Wealth Management strives to make things simple on what to do with your old retirement plan or individual retirement account to help you make the most of your retirement assets. Our advisors will work with you to discuss optimal investment strategies, methods to effectively take distributions, pre-tax and post-tax benefits, and more.

If you are considering the following options:

  • Roll over your assets into an Individual Retirement Account (IRA)
  • Leave assets in your former QRP, if plan allows
  • Move assets to your new/existing QRP, if plan allows
  • Take a lump-sum distribution and pay the associated taxes

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Each of these options has advantages and disadvantages and the one that is best depends on your individual circumstances. You should consider features such as investment options, fees and expenses, and services offered. Your Wells Fargo Advisors Financial Advisor can help educate you regarding your choices so you can decide which one makes the most sense for your specific situation. Speak with your current retirement plan administrator, and tax professional before taking any action.

When considering rolling over your assets from a QRP to an IRA, factors that should be considered and compared between QRPs and IRAs include fees and expenses, services offered, investment options, when you no longer owe the 10% additional tax for early distributions, treatment of employer stock, when required minimum distributions begin and protection of assets from creditors and bankruptcy. Investing and maintaining assets in an IRA will generally involve higher costs than those associated with QRPs. You should consult with the plan administrator and a professional tax advisor before making any decisions regarding your retirement assets.

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