If you have money in any prior employer retirement plans or in an IRA, you can consider rolling it into your current plan if your plan accepts eligible rollover assets. With your retirement assets in one place, you can simplify your life in the following ways:
- Save time by only having to use one website
- Reduce clutter with one statement
- Enjoy the convenience of having a diversified portfolio in one place1
Money from other types of plans or accounts that are rolled over into a governmental 457 plan may still be subject to the 10% federal early withdrawal penalty upon distribution from the 457 account prior to the investor reaching age 591⁄2.
With our help, consolidating your retirement assets into your existing Empower Retirement account can be simpler than you think. Contact your plan representative for help, or get started on your own by filling out an incoming transfer/rollover form located on your plan's website.
You are encouraged to discuss rolling money from one account to another with your financial advisor/planner and to consider any potential fees and/or limitations of available investment options.
1 Diversification does not ensure a profit and does not protect against loss in declining markets.