If your employer doesn’t offer a pension in retirement, you’re not alone. Fewer employers offer “defined-benefit plans” which can provide a paycheck for life in retirement.  Instead, employers have shifted the responsibility of saving for retirement largely to their employees, through “defined-contribution plans”, like the 401(k) plan.

Unfortunately, since fewer workers remain with the same employer until retirement, gaining investment momentum in plans like your 401(k) or 403(b) can be difficult. If you’re changing jobs and had a plan through your previous employer, you might be able to roll your old plan into the new employer’s plan. However, if that option doesn’t exist, or if you’ve been laid off, the IRS allows you to take personal control over these funds by rolling them over into an Individual Retirement Account (IRA).

It’s also possible that you’re approaching retirement and have accumulated a sizable nest egg through your employer’s plan. Did you know that many plans allow workers to redirect these funds into their own IRA? By taking advantage of this, you might be able to achieve more diversification by using investments options not found inside your employer’s plan. Some options will even allow you to create an income stream which is guaranteed for life.

At SFG Financial Services, our advisors understand the complex rules surrounding Qualified Plan Rollovers and In-Service Distributions.  Because our process is personalized, considerate, and steeped in knowledge, you’ll feel good knowing that any recommendations we make have been tempered with your unique financial objectives and risk tolerance. We’ll even work with your employer to make the process hassle free.