In or nearing retirement, everyone should begin to look closely at their funds. If you have IRAs, 401(k)s and pension plans at multiple firms, you may want to consider consolidating your accounts.^ At Water and Power Community Credit Union one of our CFS Financial Advisors available through CUSO Financial Services, L.P. * can help answer your rollover questions and find ways to potentially:

  • Save money on annual fees
  • Create opportunities to allocate, diversify, and rebalance in one portfolio
  • Simplify required minimum distributions
  • Provide access to one easy consolidated statement

To learn more about consolidating retirement accounts, contact us today to schedule a complimentary, no-obligation appointment.

^Before deciding whether to retain assets in an employer sponsored plan or roll over to an IRA and investor should consider various factors including but not limited to: investment options, fees and expenses, services, withdrawal penalties, protection from creditors and legal judgments, required minimum distributions and possession of employer stock. Before you elect to open an IRA account and engage your investment representative, please review all account statements and disclosure documents related to the IRA and services to be provided under a new relationship and consult with a qualified tax advisor as needed. If transferring an existing retirement plan into an IRA, you should be aware that (i) Those assets will no longer be subject to the protections of ERISA (if applicable) (ii) depending on the investments and services selected for the IRA, you may pay more or less in transaction costs than when the assets are in the Plan, (iii) if you are between the age of 55 and 59 ½, you would lose the ability to potentially take penalty-free withdrawals from the plan, (iv) if you continue working past age 70 ½ and transferred your plan assets to a new employer’s plan, you would not be subject to required minimum distribution and (v) withdrawing assets directly would be subject to federal and applicable state and local taxes and possibly be subject to the IRS penalty of 10% if under age 59 ½.