How Rollovers Work For You

Posted on November 10, 2016

If you have a 403(b) or 457(b) TPA account, rollovers allow you to roll over part or all of your funds into another eligible retirement plan. This comes in handy if you change employers or if your employer offers multiple plan types.

Rollover Rules
Certain rollovers are permitted by the IRS while others or not. These rules are updated each year and are provided in an easy-to-reference chart on the IRS website. Click here to view the current IRS Rollover Chart. One thing to keep in mind is that you must have a qualifying event to be eligible for a rollover, such as reaching age 59 1/2 or separation from service.

How to Request a Rollover
If you’ve made the decision to roll over your funds to another eligible plan, you’re only two easy steps away from completing your request.

Contact Your Provider
Your first step is to contact your providers. Simply let them know you’d like to roll over your funds to another plan. They will provide the necessary paperwork to complete the process.

Send us the Paperwork
Once you’ve received your rollover paperwork from your provider, complete and sign the forms and send them to MidAmerica for processing.

Questions?
If you have questions on any of the topics in this article, please contact us at (866) 873-4240 or email us at 403bTPA@midamerica.biz.

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