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Rollover Funds

When done right, a rollover is the best way to move money between retirement accounts. Most commonly, funds are rolled over when you move employers, taking your previous retirement plan and rolling it over into a new IRA to avoid tax consequences.

Three Steps to Rolling over an IRA:

  1. Contact a First PREMIER Banker to open your new IRA. If you have both pre-tax and Roth contributions, you should open both a Traditional and Roth IRA to preserve the associated tax benefits.
  2. Request paperwork to begin your distribution from your former employer or plan administrator.
  3. Request your distribution check made payable to First PREMIER Bank with a notation of your name and IRA account number.