Consolidating Your Retirement Accounts

Consider your options when planning for retirement

If you’ve had more than one employer, you could have multiple retirement plans. Did you know you may be able to roll your assets into another account or leave them where they are currently invested? Your Nationwide retirement plan offers you the ability to transfer outside assets into your plan.

The below list of key factors will help you evaluate whether you might roll assets into your plan or leave the money where it’s currently invested.

Key factors to consider:

  • Consolidation: Pros and cons of having more than one retirement account versus fewer.
  • Fees: Examine the fees assessed in your existing plan, and compare those with the fees in the plan that you are considering rolling assets into. The expenses that you may be paying or would be paying should be evaluated in consideration of the investment and service offering(s) available within the arrangements being considered.
  • Performance: Consider plan performance and returns in deciding whether to roll over assets or retain them in an existing plan.
  • Investment options: Review all plan investment lineups to understand the choices for each.
  • Available services: Consider other services or arrangements offered by the plan, such as access to tools, education, resources, and managed account services, which assigns oversight to a third party.

As you consider combining assets into your retirement account, bear in mind that 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 Assets rolled over from your account(s) may be subject to surrender charges, other fees and/or a 10% tax penalty if withdrawn before age 59½.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.

Get the help you need

To learn more about your retirement options, contact your Retirement Specialist.

This material is not a recommendation to buy, sell, hold or roll over any asset, adopt an investment strategy, retain a specific investment manager or use a particular account type. It does not take into account the specific investment objectives, tax and financial condition or particular needs of any specific person. Investors should work with their financial professional to discuss their specific situation.

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