If you’ve recently changed jobs or retired and would like to protect the balance in your previous employer’s retirement plan, Frost’s Rollover IRA is for you.
- eligible distributions from an employer-sponsored retirement plan can be directly transferred into a Rollover IRA
- direct rollover avoids 20% withholding requirement on distributions from employer-sponsored plans
- full protection from bankruptcy
DEADLINE TO SET UP/CONTRIBUTE
An individual generally has 60 days from the date he or she receives an eligible rollover distribution to contribute the assets to a Rollover IRA but may request a trustee-to-trustee transfer to move assets between IRAs that wouldn’t be subject to the 60-day rollover deadline.