Rollover Planning : Suncoast Schools Federal Credit Union Retirement Accounts & Services

Changing Jobs or Retiring? Know the Rollover Rules.

Under current tax laws it's easier than ever for you to transfer your retirement savings from one tax-favored plan to another when you change jobs or leave the workforce.

Tax Advantages of Rollovers

Income tax is deferred on the lump sum distribution.
Growth and earnings accumulate tax-deferred.

Rollover planning is a very important step and our experienced and trusted advisors at Suncoast Trust and Investment Services are ready to work with you to assure you make the right decision with your retirement distribution. Contact us online for a complimentary consultation, contact a specific Financial Representative, or call 1-866-300-9382.

Rollover Eligibility

Are Rollovers Permitted?	To 401(k)	To 403(b)/ 403(b)(7)	To Govt. Deferred Comp. Plan 457(b)	To IRA
From 401(k)	Yes	Yes	Yes ²	Yes
From 403(b)/ 403(b)(7)	Yes	Yes	Yes ²	Yes
From Govt. Deferred Comp. Plan 457(b)	Yes ¹	Yes ¹	Yes	Yes ¹
From Regular IRA/SEP	Yes	Yes	Yes ²	Yes
From SIMPLE IRA	Yes ³	Yes ³	Yes ³	Yes ³

1 Governmental Deferred Compensation 457(b) plan contributions are not subject to an early distribution penalty; however, if these contributions are rolled over to a 401(k), 403(b), 403(b)(7) or IRA, the premature distribution penalty will apply to them. Consult your tax advisor before rolling 457 assets into a 401(k), 403(b), 403(b)(7), or IRA.

2 Rollover funds must be accounted for separately to apply early distribution rules to non-457 funds.

3 In order for your SIMPLE IRA to be eligible for rollover, you must have been participating in your employer's SIMPLE salary reduction arrangement for more than two years.

If you are considering rolling into your new employers plan, you will want to check with your employer to determine If your plan accepts rollovers.

Suncoast Trust & Investment Services is a marketing name used by Suncoast Schools Federal Credit Union. Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. Trust services sold through MEMBERS Trust Company, Office of Comptroller of Currency. Not NCUA/NCUSIF/FDIC Insured, No Financial Institution Guarantee, May Lose Value. Not a Deposit of Any Financial Institution. CBSI is a registered broker/dealer in all fifty states of the United States of America.