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

A Rollover IRA can be set up at any time to receive assets from an employer sponsored retirement plan. An individual generally has 60 days from the date he or she receives an indirect rollover distribution directly from the plan to contribute the assets to a Rollover IRA. However, a direct rollover distribution from the retirement plan to Frost can be requested and completed without a time limit.

​​​​​​Eligibility Requirements

You may continue to contribute to your Rollover IRA if the following eligibility requirements are met:

  • ​You are under age 70 ½ and have earned income
  • Your non-working spouse may also be able to contribute if certain conditions are met 

Contribution Deadline and Limits

The maximum annual contribution to a Rollover IRA is the lesser of $5,500 for tax year 2016 or 100% of compensation. For those individuals who are 50 or older at the end of the tax year, an additional annual “catch-up” contribution of $1,000 may be made. Consult a Frost Wealth Advisor for more details.

​​​​​