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How to Roll Over Your Employer Retirement Plan

There are two types of rollovers: direct and indirect.

A direct rollover is paid from your plan directly to your IRA or to your new employer’s retirement plan. The funds are never payable to you.

An indirect (60-day) rollover is a payment made to you that you later roll over to an IRA or an employer retirement plan.

When you request a distribution from your employer’s 401(k), 403(b), or governmental 457(b) plan that’s eligible for rollover, you’ll receive a statement describing the tax rules applicable to your distribution and your rollover options. You should read that statement carefully.

Here is our guide to the Nuts and Bolts of Rolling Over your Employer Retirement Plan please feel free to print or save a copy of the pdf.

We complete all the forms and manage the rollover process for our clients.  If you have any questions or prefer to speak with one of our advisors or tax planners please reach out to us at 410-823-5442 or by contacting us here.

Chesapeake Financial Advisors is a fee-only financial planning, investment advisory and tax planning firm with offices in Towson, Bel Air and Columbia, Maryland.

Tomy Taylor, CPA/PFS

Tom Taylor, CPA/PFS

Tom has over 25 years of experience in finance and accounting. Before founding Chesapeake Financial Advisors (CFA) in 1998, Tom started his career at the international accounting firm Ernst & Young as an auditor in the Financial Services Industry Group. He then joined Legg Mason as an Investment Banking Analyst. In this role, he acquired extensive transaction experience in common and preferred equity stock offerings, mergers and acquisitions and fairness opinions. This experience laid the foundation to branch out and form CFA.

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