When getting a new job or retiring you may want to move your accumulated retirement assets, including your 401(k)s, to a consolidated account. Consider moving your assets to an IRA with Thrivent Mutual Funds. There are several ways available depending on where the assets currently are held and how the request is completed. Beyond rollovers, you should understand your options, weigh the pros and cons and make a choice that is right for your goals and circumstances.
Learn the basics about moving your retirement assets, including when it makes sense, and what types of plans qualify.
* IRAs provide increased flexibility on early withdrawals due to additional IRS exceptions to the 10% early withdrawal penalty for IRA distributions. Examples include first time home purchase and qualified higher education expenses. See IRS Publication 590B for more details. However, by rolling over to an IRA, you lose the option for penalty-free distribution from 401(k) plans after the age of 55.
1 Source: 2022 Investment Company Fact Book