401(k) or 403(b) Rollover IRA

If you've recently left an employer, you'll need to decide what to do with your eligible retirement plan savings, which may be the largest investment you've ever managed. Open a Rollover IRA and transfer your 401(k), 403(b) or other employer-sponsored retirement plan to Financial Resources through CFS.

  • Move your money from one retirement plan to another while avoiding current taxes and penalties.
  • A Rollover IRA is a good opportunity to reassess your retirement portfolio because it will allow you to choose from investments not traditionally offered by employer plans.
  • A Rollover IRA also allows for distributions upon attaining the age of 59 1/2, or up to 70 1/2 when distributions are normally required to begin.
  • Our licensed and Registered CFS* Financial Advisors offer a wide range of investment choices, like mutual funds, stocks, bonds, or annuities.

If you are younger than 59 1/2, distributions will generally be subject to current income taxes and a 10% tax penalty unless an exception applies. So before making an early withdrawal, consult with your tax advisor. For more information on the Rollover IRA, visit your local branch, call 888-566-2876, or complete an Information Request form by clicking here.

* Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a registered broker-dealer (Member FINRA /SIPC ) and SEC 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. Financial Resources Federal Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.
There are important considerations with respect to IRA Rollovers. If transferring an existing retirement plan into an IRA, you should be aware that (i) Those assets will no longer be subject to the protections of ERISA, and (ii) depending on the investments and services selected for the IRA, you may pay more or less in transaction costs than when the assets are in the Plan. Please consult with a qualified tax professional as needed.