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Ask the Expert: Retirement Rollovers

March 19, 2015

Retiring Your Way



Do I have to roll my retirement fund into an IRA when I retire? If I do move my retirement dollars to an IRA should I have someone manage my account?


Well, that all depends on your company’s plan and your financial expertise!

Some plans force you out at retirement, regardless of the account balance. Other plans allow participants to leave their money in the plan during retirement. However, the majority of plans force out participants with balances under $5,000. For more information talk to your HR department or email your plan educator

Having someone manage your IRA certainly makes sense for some. Retirees can sometimes feel uncomfortable managing their account when it gets to 6 digits. If it makes you nervous and you question your expertise, by all means, pay someone to manage your account. Those fees are usually around 1% of the account balance annually but may be higher, depending upon the services. Besides your knowledge level and the cost, you should also consider the time it will take. Maybe you have other things you want to do in retirement? Check out the Union Investment Management Group or our IRA options for more information.

Do you have a question for our retirement educators that you want answered on our blog? Comment below!

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This blog article is for informational purposes only, and is not an advertisement for a product or service. The accuracy and completeness is not guaranteed and does not constitute legal or tax advice. Please consult with your own tax, legal, and financial advisors.