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Rollovers

Rolling over a retirement account from your old employer

A rollover involves transferring your funds from an existing retirement account at your previous employer to a new account. When you change jobs, your 403(b), 457(b), or 401(k) investments can maintain their tax-deferred status, with taxes due only upon withdrawal. The rollover process may take up to 90 days to complete and reflect in the new account.

Rules differ based on the type of rollover. If you want more details, go to IRS.gov.


Benefits of a rollover

Combining your retirement assets can simplify managing your retirement income. Also consider some potential key benefits:

  • You may be able to borrow against your retirement account if plan loans are available
  • Under Federal Law, assets in an eligible retirement plan are protected from claims by creditors
  • Your new retirement plan may have lower administrative and/or investment fees

More potential rollover benefits

Tax savings

You won’t pay taxes on potential growth until you make withdrawals.

Access to your money

You may have access to investment choices, loans, distributions and other services and features not available in an IRA.

Delayed required minimum distributions (RMDs)

If you are still working, RMDs may be delayed beyond your RMD age.

Ready to roll over your retirement account?
You may be able to do it online. Go to forms and download the rollover form.

Get the help you need

Talk with one of our Personal Retirement Consultants if you have questions about receiving your money in retirement. Neither Nationwide nor its representatives may offer tax or legal advice. You should consult your own counsel before making any decisions about plan withdrawals.

Contact us

Personal Retirement Consultants are registered representatives of Nationwide Securities, LLC., member FINRA, SIPC. DBA Nationwide Advisory Services, LLC. in AR, CA, FL, NY, TX, and WY. Securities and Investment Advisory Services offered through Nationwide Securities, LLC, member FINRA, SIPC, and a Registered Investment Advisor. DBA Nationwide Advisory Services, LLC in AR, CA, FL, NY, TX and WY. Representative of Nationwide Life Insurance Company, affiliated companies and other companies.

Qualified retirement plans, deferred compensation plans and individual retirement accounts are all different, including fees and when you can access funds. Assets rolled over from your account(s) may be subject to surrender charges, other fees and/or a 10% tax penalty if withdrawn before age 59 ½.