Stay invested in your future with an IRA rollover.
Moving onto the golden years of retirement or to a new job? Have you considered what you want to do with your company pension funds or retirement account?
We can help with an IRA rollover, in which you deposit or "roll-over" a lump sum distribution from your company pension or profit-sharing plan. A rollover allows you to keep your money invested and growing tax deferred.
There are two types of rollovers:
- Direct Rollover: Your funds move directly from one retirement account to another and you do not receive the money in the process.
- Indirect Rollover: Assets from your retirement plan are paid to you by check. You have up to 60 days to reinvest the money in an IRA or qualified retirement plan. If you do not reinvest the money in 60 days, you must pay taxes on the distribution and may also owe a 10% early withdrawal penalty.
Guaranty Bank offers IRA Certificates of Deposit ranging from six months to five years. IRAs offered by Guaranty Bank are FDIC insured.