Consolidate Retirement Savings With an IRA


On the pool sideIf you have retirement assets in more than one employer plan or IRA, think about consolidating this money with a single investment company to make your financial planning easier. You can combine money from IRAs and prior employers' retirement plans — such as 403(b), 401(k) or 457(b) supplemental plans — into a single IRA.*

Consolidating your retirement assets into an IRA can offer the following benefits:

  • Streamlined investment planning: If you have retirement assets with different financial providers, it can be difficult to maintain a consistent, comprehensive investment strategy. Consolidating your assets with one financial provider can help you create a single, integrated allocation strategy that's in line with your investment goals, risk tolerance and time horizon.
  • Simplified recordkeeping: If you consolidate your assets with a single financial services company, you will receive a single statement from one carrier instead of several statements from multiple carriers. This can make it easier to monitor your investments.
  • Improved income option strategies: Some financial firms offer more options for receiving retirement income than other providers. Think about consolidating your assets with a company that offers a variety of income options — such as annuities and systematic withdrawals — so you can better tailor your income strategy to your needs.
  • Reduced expenses: If you have multiple retirement plans, you're probably paying fees for each one of these plans. This can result in higher costs than if you have all your assets with a single provider. However, before consolidating assets with one company, make sure you fully understand all the fees, expenses and surrender charges that may apply.

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