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We'll help when it's time to roll up your sleeves and roll over your 401(k) to an IRA.

Why roll your 401(k) over into an IRA?

Recently retired or separated from your company? Now may be the time to consider rolling your 401(k) over into an individual retirement account. The retirement and investment professionals at Alerus can educate you on your available options. 

We'll work out all the fine details together, but in truth, rolling over your 401(k) is as easy as 1-2-3.

Start by deciding whether you want to roll your 401(k) over into a tax-deferred traditional IRA or a Roth IRA.

Next, you'll need your former employer or plan administrator to roll your 401(k) funds over to Alerus. Have them roll over the funds directly to Alerus for the benefit of (FBO) your name. Make sure to reference your name and the account number of your new IRA (if available). Or, you can elect to receive your check in the mail to deposit into your Alerus IRA.

Finally, the funds need to be invested so they can grow to meet your personal goals. We’re here to build the portfolio focused on meeting your retirement needs. And don't worry, we'll take the time to answer all your questions about the array of available funds.

Ready to roll over your 401(k)?

Talk to a representative, and we'll get you up and rolling in no time.

Call
888.409.5375

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Things to Keep In Mind

There are a variety of options available, depending on your circumstances, when it comes to handling your retirement assets. These options include leaving assets in your former employer's retirement plan (if allowed), moving the balance to your new/existing employer's plan (if allowed), rolling the assets into an IRA, or taking a cash distribution/lump sum.

Be sure to consider potential benefits and limitations of each option regarding the handling of your assets. Your should consider services offered, potential withdrawal penalties, fees and expenses, treatment of employer stock, required minimum distribution planning, the range of available investments, and protection from creditors. Discuss rollover options with your tax advisor for tax considerations.

Trust and Retirement services are offered through Alerus Financial, N.A., which does not provide legal or tax advice. Please consult with your tax or legal advisor to determine how this information may impact your own situation. The information on this site should not be relied upon as investment advice or solicitation. Statements of fact are considered reliable but no representation or warranty is made as to their completeness or accuracy

Investment products are available through Alerus Financial, N.A., and its affiliate subsidiary company Alerus Securities Corporation, a broker dealer, member FINRA and SIPC

Investment products are 1)Not FDIC insured 2)Not guaranteed by bank 3)May lose value.


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