Withdrawals

Withdrawals-Page-Photo.png

401(k) Rollover

You have several choices for what you can do with the money in your employer-sponsored retirement plan:

  • Roll over your assets into an American Trust Managed IRA
  • Roll over your assets to your new employer's plan
  • Remain in your former employer's plan (if the plan permits it)
  • Take a distribution

Compare your options

Distributions

A distribution is money you withdraw from an employer-sponsored retirement plan or any other tax-deferred retirement plan. Generally, distributions of elective deferrals cannot be made until one of the following occurs:

  • The participant dies, becomes disabled, or otherwise has a severance from employment
  • The plan terminates and no successor defined contribution plan is established or maintained by the employer
  • The participant reaches age 59½ or incurs a financial hardship

Depending on the terms of the plan, distributions may be:

  • Nonperiodic, such as lump-sum distributions
  • Periodic, such as annuity or installment payments