What is a Rollover?
A Rollover is the process of moving your retirement account with a previous employer into an Individual Retirement Account (IRA). Rolling over to an IRA allows you to keep your account tax-deferred.

Is there a dollar limit on how much 401(k) money I can transfer to an IRA?
There’s no dollar limit on the amount you can roll over from a 401(k) plan to an Individual Retirement Account.

How do I Rollover my retirement plan to a Slavic Managed IRA?
If you don't have one already, the first step is to open a Slavic Managed IRA. Then, rollover funds from your retirement plan to your newly established Slavic Managed IRA.

Are there any tax penalties when doing a rollover?
When you roll over your money directly from a 401(k) or another type of retirement plan into an IRA, there are typically no tax penalties.

Does it cost anything to roll my account over?
There is no cost to roll over an IRA or 401(k). The other financial institution may charge fees for transferring the retirement plan to a Slavic Managed IRA.

What type of retirement plans can I roll over into an IRA?
There are several types of qualified retirement plans that can be rolled over into an IRA:
    • 401(k) - Retirement plan offered by many employers
    • 457(b) - For local and state government workers
    • 403(b) - For public educators and some non-profit employees
    • Thrift Savings Plans (TSPs) - For U.S. government employees
    • Other account types may also be accepted
If you have any questions, contact a Retirement Specialist.

What is the difference between Direct Rollover & Indirect Rollover?
Direct Rollover, the check from your employer sponsored plan is made out to the financial institution where you opened your IRA, for example “for the benefit of ______”. Since the money is deposited directly from the 401(k) to the IRA, no taxes withheld.

With Indirect Rollover, the check is made payable to you. Your former employer withholds a mandatory 20% for taxes. You have 60 days to deposit these funds into an IRA, and must make up the 20% yourself, otherwise the 20% withheld will be considered a taxable distribution and only 80% will continue to grow tax-free or tax deferred. In addition, if you are under age 59 ½ you would be subject to an additional early withdrawal penalty of 10%.

What is the difference between Rollover & Transfer?
It’s all about where the money is coming from. Open a Rollover when the money is coming from an employer sponsored plan such as a 401(k). If funds are already in a Traditional or Roth IRA, you simply open a new Traditional or Roth account and transfer your current cash and investments.