Rolling over a retirement account from your old employer
A rollover is moving your funds from an existing retirement account at your old employer to an account new one. If you change jobs, your 403(b), 457(b) or 401(k) investment can retain its tax-deferred status; you'll pay taxes once you withdraw it. The rollover may take up to 90 days to appear in the new account.
Rules differ based on the type of rollover. If you want more details, go to IRS.gov.
Benefits of a rollover
Combining your retirement assets can simplify managing your retirement income. Also consider some potential key benefits:
- You may be able to borrow against your retirement account if plan loans are available
- Under Federal Law, assets in an eligible retirement plan are protected from claims by creditors
- Your new retirement plan may have lower administrative and/or investment fees
Ready to roll over your retirement account?
You may be able to do it online. Go to
forms and download the rollover form.
Get the help you need
Talk with one of our Personal Retirement Consultants if you have questions about receiving your money in retirement. Neither Nationwide nor its representatives may offer tax or legal advice. You should consult your own counsel before making any decisions about plan withdrawals.
Qualified retirement plans, deferred compensation plans and individual retirement accounts are all different, including fees and when you can access funds. Assets rolled over from your account(s) may be subject to surrender charges, other fees and/or a 10% tax penalty if withdrawn before age 59 ½.
