1 Some employer plans require you to move your balance if the balance is below minimum thresholds. Check your plan's provisions to see if that applies to you.
2 Not every plan allows for direct transfers. Check your new employer's plan provisions first. Funds rolled into a governmental 457 plan from another type of plan or account may still be subject to the 10% early withdrawal penalty if taken before age 59½.
3 This option will mean your retirement account may be taxable income. This could negatively impact your overall savings. This may include a 10% penalty tax on top of your ordinary tax rate if you have not reached age 59½. The 10% penalty does not apply to government 457 plans.
Securities, when presented, are offered and/or distributed by GWFS Equities, Inc., Member FINRA/SIPC. GWFS is an affiliate of Empower Retirement, LLC; Great-West Funds, Inc.; and registered investment adviser, Advised Assets Group, LLC. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice.
©2023 Empower Retirement, LLC. All rights reserved.
Unless otherwise noted: Not a Deposit | Not FDIC Insured | Not Bank Guaranteed | Funds May Lose Value | Not Insured by Any Federal Government Agency.