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Rollovers

Rollovers

We accept rollovers from employer-sponsored retirement plans

A Rollover is a tax-free transfer of assets from a retirement plan to either a Traditional IRA or another employers’ retirement plan. Rollovers generally come from 401(k) plans and other types of defined contribution plans.

Rollovers from an employer sponsored retirement plan can be:

  • A transfer from your retirement plan directly to an IRA trustee or to the trustee of the retirement plan at a new employer
  • A transfer from your retirement plan to you, and then, within 60 days from you to an IRA trustee or to the trustee of a retirement plan at a new employer.
  • You can benefit from a Rollover because:

  • It’s not a taxable distribution
  • It allows continued tax-deferred growth of funds and investment flexibility
  • You may be eligible for additional contributions
  • It’s a convenient way to consolidate IRAs and prior employer sponsored plans into one manageable account.
  • BCU can work with you to ensure there is a smooth transition of your retirement savings if:

  • You have funds in an employer-sponsored retirement plan (such as a 401(k) or profit sharing plan)
  • You are entitled to take a distribution from your plan
  • You have established a traditional IRA to receive the funds.
  • If a rollover is done properly and all rules are followed, there are no taxes or penalties. To ensure your rollover is handled correctly, consult with a Financial Advisor * at BCU.

    To get started on a Rollover with a BCU Investment Advisor:

  • Contact us by email
  • Call us at 800-388-7000 x8244
  • *Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. BCU has contracted with CFS to make non-deposit investment products and services available to credit union members. BCU Investment Advisors is a trade name for the investment services available at BCU.