Consolidation Tips Under 40 Characters
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One of a suite of individual retirement education modules created for Nationwide Financial, the Consolidation Education Module helps a plan participant understand how combining their retirement accounts with one provider simplifies preparing for the future. The module system gives retirement specialists the ability to create longer, fully customizable presentations by allowing them to mix, match and combine individual modules in the suite. This enables the sales force a greater flexibility in planning meetings and answering individual plan and participant needs.
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Consolidation Tips Under 40 Characters
- 2. Consolidation 2 The use of diversification and asset allocation as part of an overall investment strategy does not assure a profit or protect against loss in a declining market. 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 Assets rolled over from your account(s) may be subject to surrender charges, other fees and/or a 10% tax penalty if withdrawn before age 59½. Neither Nationwide nor any of its representatives give legal or tax advice. Please contact your legal or tax advisor for such advice.
- 3. Consolidation 3 Assets rolled over from your account(s) may be subject to surrender charges, other fees and/or a 10% tax penalty if withdrawn before age 59½. Neither Nationwide, nor any of its represen- tatives give legal or tax advice.
- 5. Consolidation 5 Neither Nationwide nor any of its representatives give legal or tax advice.
- 6. Consolidation 6 Assets rolled over from your account(s) may be subject to surrender charges, other fees and/or a 10% tax penalty if withdrawn before age 59½. Neither Nationwide, nor any of its representatives give legal or tax advice.
- 7. Neither Nationwide® nor any of its representatives give legal or tax advice. Information provided by Retirement Specialists is for educational purposes only and is not intended as investment advice. Nationwide Retirement Solutions, Inc. and Nationwide Life Insurance Company (collectively "Nationwide") have endorsement relationships with the National Association of Counties and the International Association of Firefighters-Financial Corporation. More information about the endorsement relationships may be found online at www.nrsforu.com. Nationwide Retirement Solutions, Inc. and its affiliates (Nationwide) offer a variety of investment options to public sector retirement plans through variable annuity contracts, trust or custodial accounts. Nationwide may receive payments from mutual funds or their affiliates in connection with those investment options. For more detail about the payments Nationwide receives, please visit www.nrsforu.com. Retirement Specialists are registered representatives of Nationwide Investment Services Corporation, member FINRA. In MI only: Nationwide Investment Svcs. Corporation. Nationwide, the Nationwide framemark, and On Your Side are service marks of Nationwide Mutual Insurance Company. ©2012 Nationwide Retirement Solutions Inc. All rights reserved. NRM-6599AO.3 (12/12)
Editor's Notes
- How many retirement accounts do you have? Can you count them on one hand? Having more accounts means you have more to handle. One account means less hassle. That means one statement and less paperwork. That means one point of contact. And one place to more easily manage all your accounts.
- Take your retirement assets, for ‘pension and a retirement plan. And if you’ve had multiple employers in your life, you might have more than one retirement plan. A 457 here, a 401(k) there. And maybe even an IRA or 403(b). It’s smart to bring your money with you. If you keep your money in a local bank and you move away, wouldn’t you move your money to a bank in your new town? When you move other assets into your Nationwide plan, we’ll help you manage all your investments in one place. Why is this important? Well, for several reasons... Your investment strategy can change over time. Your retirement goals today are most likely different than your investment strategy was 10 years ago If you’ve left money in an former employer’s 401(k), you might not be actively managing that account, so the money that remains invested there might not match what your goals are today. Having multiple accounts doesn’t always mean your investments are well-balanced. You may be reviewing individual accounts at varying times and frequency. Having your money in one place allows you to consider your entire investment picture. By combining all of your retirement assets into your Nationwide plan, we can provide education on how to: Diversify your investments based on your individual retirement goals Understand your tolerance to market risk Take into consideration when you plan to retire. Please keep in mind taxes and fees may be incurred when transferring assets. Also, amounts rolled into the plan from another eligible retirement plan that are maintained in a separate rollover account maybe distributed at any time upon request. And you may be subject to early withdrawal penalties.
- You can move your IRA, 401(k), 403(b), another 457 and other eligible money into your Nationwide account. We help 1000s of people just like you consolidate their retirement assets into one, easier to manage account. That is just one reason to consolidate your retirement assets into your Nationwide account, our experience. Nationwide is a leader in providing retirement plans to the public sector. We have more plans than any other provider1. Your Nationwide plan offers a variety of investment options to help you stay diversified and create a plan to keep you on track and help you achieve your goals. Nationwide is a large provider and we offer competitive pricing that is frequently lower cost than other investment options. And Nationwide Representatives are salaried employees who don’t work on commission. We can also help keep track of all the “rules” that come along with all your assets. For example, if you retire before age 59½, you’re able to access your 457 dollars because of the plan’s unique distribution option. But with your 401(k), you’re still responsible to wait to access funds until age 59½. Even when your money is housed within your deferred comp account, it doesn’t mean you’re no longer subject to rules that apply to specific types of retirement plans. The criteria and rules for transferring assets into your deferred comp account can be confusing, and that's what we're here to help you with. It can be a lot to manage, but we’ll help you understand it all. It’s our job to keep your planning as hassle-free as possible when you manage them in one place. Keep in mind, however, that neither Nationwide nor any of its representatives give legal or tax advice.1PlanSponsor.com, June 2012
- Another reason to consider combining your accounts is to get the help and service you need from your plan provider. That's why we give you the resources and personal service to help you understand your retirement plan — and your life in retirement.Not only can we help simplify your life by managing assets in one place, but you’ll get individual attention from local reps, as well as convenient call center hours anytime you have a question. You can manage your account when, where and how you want with 24/7 access to your account both online and by phone.
- And that help doesn’t end when you leave your employer. Because you’ve worked hard to accumulate money for retirement. You need flexible options to make educated choices about your account once you’re retired. Your Nationwide account is intended to serve as a supplemental income in retirement, so you have a variety of options when deciding what to do in retirement. For example, did you know you can leave your assets in the plan after you separate from your employer, giving them the chance to continue growing until you need them? Did you also know that they grow tax-deferred? And just think how much easier it could be to understand your distributions from one account vs. multiple ones. Nationwide will review the many different options you have providing you with information to help you choose the method that is right for you.When you stay in the plan – and even when you bring other money into it from other eligible assets – we also take care what the IRS calls a required minimum distribution. The IRS requires that on the April 1 after you reach age 70½, you must at least begin taking some of your money and we will take care of calculating your RMD amount for you. RMD amounts must then be taken each year after that and the payment is recalculated each year as your account balance and life expectancy change.Remember, investing involves risk, including possible loss of principal.Neither Nationwide nor any of its representatives give legal or tax advice.
- If you don’t have help, generally speaking, the process of transferring your money can be challenging. Every company has their own processes and procedures to transfer and move assets – and that probably includes a special form from the other company who provides the retirement account you’d like to move into your deferred comp account. We have experience in helping participants do this because we’ve helped many people move other retirement dollars into their deferred comp accounts. And we’ve got a lot of experience working with other companies to transfer money to make it a smoother experience for you. Here’s how to combine your other accounts into your deferred comp plan:One – You’ll complete a Nationwide rollover form.Two – Then, we’ll work with you (and your other provider) to complete any paperwork they may require.Three – Finally, once your money is transferred, you’ll begin receiving one statement that details all of your accounts combined.We’ll help make it simpler. That’s our On Your Side service. Talk with me today about combining your accounts, and we can complete the rollover form together.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 59½. Neither Nationwide, nor any of its representatives give legal or tax advice.