Understand your choices. Speak to your company's benefit advisor. Learn exactly how much you have in your plan. Find out what portion is eligible to be rolled over. To assist you, here are some answers to some frequently asked questions about rollovers.
Rollover refers to the tax-free movement of assets from one retirement plan to another.
Unfortunately, the specific rules are not exactly the same for each kind of rollover. When learning about rollovers, you'll need to make sure that the information you receive applies to your specific situation. For example, some of the rules dealing with rollovers from employer-sponsored plans are not the same as those for rollovers between IRAs. A Rollover IRA should hold only assets either rolled over from a company retirement plan to an IRA or assets rolled over from another IRA that originated in a company retirement plan. By placing the assets in a Rollover IRA, an investor maintains the option of someday rolling the assets into an employer-sponsored retirement plan at another employer.