 |
 |
|
"Up to 64% can be lost depending on how you roll your money."
| Amount lost: |
| 64% |
Check in your name…no rollover…< age 59 1/2 |
| 36% |
Check in your name…no rollover…> age 59 1/2 |
| 20%* |
Check in your name…roll over within 60 days |
| 0% |
Roll over directly to new plan |
*Your old employer automatically withholds 20 percent of your account balance when a check is made out to you. If you reinvest the money within 60 days to a qualified plan or IRA, you can get your 20 percent back at tax time.
- When you reinvest, you will need to make up for the 20 percent (that was withheld) out of your pocket. (In other words, the total amount you deposit in the new plan must equal the total amount in your former plan.)
- At income tax time, you can receive a credit for the 20 percent your former employer withheld.
|
|
