Your Four Options:

Keep it where it is

Open an IRA

Your new plan


Moving on from your job or retiring?


As you plan your next step, what you decide about your retirement savings could have a big impact on your future. We can help.

Taxes and penalties can drain your retirement savings.

Take some time to learn about your options.

Review Your Retirement Savings Options


Your Annex 401(k) advisor is obligated to act in your best interests. We’ll work with you to help with key decisions and obstacles, like how to:

  • Formulate a financial plan that reflects you and your goals
  • Navigate taxes and penalties that could drain your retirement savings
  • Consider methods to keep your money tax-deferred while continuing to save for retirement

Most decisions you’ll face fit into one of four categories:

Continue saving for retirement

Keep Your Retirement Savings Where They Are¹


If you’re happy with where your retirement account is, in many cases, you can keep your savings there.

  • Your money stays where it is
  • Your money stays tax-deferred
  • You do not need to take any action at this time
  • You can no longer contribute to it
  • If you open a retirement savings account at your new employer, you’ll have two to keep track of

Make sure you keep your address and contact information current, so you don’t accidentally lose this account.

Continue saving for retirement

Transfer Your Retirement Savings To An IRA

An Individual Retirement Account (IRA) is a sensible option that offers you more control over your money.*

  • Savings remain tax-deferred
  • IRAs typically offer more investment choices
  • You can continue contributing to your account
  • You can choose your investment options (self-directed) or have an advisor manage the IRA
  • More investment options may help maintain alignment with your financial plan

Continue saving for retirement

Move Your Retirement Savings To Your New Employer’s Plan²

Many choose to simply roll over their savings to their new employer’s plan.**

Once you have your new plan information, you can call your current custodian or login to your plan to initiate the rollover.

  • Account access and reporting are often simple
  • Your accounts will be in one place
  • You’ll need to confirm your new plan will receive rollovers
  • Costs may be greater than your old savings account or an IRA
  • Your investment options may be limited compared to your current 401(k) or an IRA

Make A Cash Withdrawal³

If you wish to take your money out, you can choose to close your account and cash out. But remember, taxes and penalties add up – leaving you with much less than you may think.

While your retirement savings account may seem like free money, it’s really not. This is the money that you have been diligently saving for your future. If you can, let it keep growing along with you.

If you wish to close your account, login to your account online or call your 401k plan custodian.

  • You get a percentage of your savings immediately
  • Your retirement account will be taxable income – this could negatively impact your overall savings
  • You lose months and years of savings in taxes and fees

*There is no guarantee provided by any party that participation in any of the advisory services will result in a profit.

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. Review your investment choices and compare fees and plan provisions to see if it’s as good an option as your current plan.

**As with any financial decision, you are encouraged to discuss moving money between accounts, including rollovers, with a financial advisor and to consider costs, risks, investment options and limitations prior to investing.

3. This option will mean your retirement account will 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.

Contact Us

Annex Wealth Management
17950 W. Corporate Drive
Suite 300
Brookfield, WI 53045

Call: (262) 786-6363
Fax: (262) 792-8930

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