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1830 S. Alma School Road, Suite 104
Mesa (Phoenix), AZ 85210
Office: 480-248-6953

Copper Canyon Wealth Management

Your Vision. Our Guidance.


Retirement Plan Rollover

Are you a participant in your employer's 401(k), 403(b), 457 Deferred Compensation Plan or Thrift Savings Plan? If so, the good news is when you leave your employment, you’re entitled to take control and manage those funds as you deem appropriate. Unfortunately, many people make the mistake of accepting unnecessary losses and penalties by withdrawing the funds. This action can set your retirement planning back by years and cost you thousands of dollars. So, a best option is to initiate a retirement plan rollover. 

The retirement plan rollover provides you an option to transfer your existing retirement account into another retirement account without being subject to unnecessary taxes or withdrawal penalties. Retirement accounts like a 401(k), 403(b), 457 or TSP have been funded with pre-tax dollars, and have grown tax-deferred. This means, if you take a premature distribution (before age 59 1/2), the IRS will penalize you with ordinary income taxes and an early distribution penalty of 10% on all the monies distributed. This can be a significant tax event if you don’t need that money for a dire emergency, yet many people will accept the penalty simply because they don’t understand the options and benefits of initiating a retirement plan rollover.                       

Call our office today for a complimentary review of your personal retirement plan rollover options!