If you’re planning to change jobs or retire and have a 401(k) account, you may want to consider a rollover. Learn more about 401(k) rollover options and other ways to reinvest your 401(k).
1 Guarantees are subject to the claims-paying ability of the issuer.
2 “Retirement Plans FAQs Regarding Substantially Equal Periodic Payments,” IRS.gov. See irs.gov/retirement-plans.
Neither New York Life nor its representatives or affiliates provide tax or legal advice. Consult with a tax or legal advisor to discuss any questions or concerns that you have, such as the tax consequences of withdrawing funds or removing shares of an employer’s stock from a retirement plan and whether money invested in a retirement plan receives greater protection from creditors and legal judgments in your state than money invested in an IRA or annuity. Also, consider that you may be able to take taxable, but penalty-free, withdrawals from an employer-sponsored retirement plan between the ages of 55 and 59½ that you would not be able to take if you roll over your funds to an IRA or annuity. Additionally, if you plan to work after you reach age 72, you may not be required to take minimum distributions from your current employer’s retirement plan but would be required to do so for funds invested in an IRA or annuity.