When you leave your employer to start a new job or retire, there's no doubt you're dealing with change and the stress that goes along with it. With everything you have to think about, deciding what to do with your accumulated retirement savings is probably the last thing on your mind. But it's the one decision you can't afford to put off.
The Results Last a Lifetime
That money you've worked so hard to save will probably be one of your biggest sources of income during your retirement.
You're facing an important choice: what to do with your retirement savings. And what you decide now will shape your future quality of life. It could mean the difference between enjoying a comfortable retirement and struggling to make ends meet.
You have several options to choose from and it's important that you know the facts before you make a decision. Discuss your options with your financial advisor to ensure that you are choosing the one that's right for your own situation.
Know Your Options
You can do one of four things with the money you've accumulated in your employer's plan:
|1. Take the Cash.||2. Transfer the money to your new employer's plan.|
|3. Leave the money in your employer's plan.||4. Roll the Money into an OppenheimerFunds IRA.|
1. Hypothetical example assumes a 28% federal tax rate, a 5% state tax rate and a 10% early withdrawal penalty tax. Your tax rates may be higher or lower.
Shares of Oppenheimer funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.
Before investing in any of the Oppenheimer funds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. Fund prospectuses and summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visiting oppenheimerfunds.com, or calling 1.800.CALL OPP (225.5677). Read prospectuses and summary prospectuses carefully before investing.
Oppenheimer funds are distributed by OppenheimerFunds Distributor, Inc.
225 Liberty Street, New York, NY 10281-1008