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Individual Retirement Plans
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Rollover IRA
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Rollover IRA

If you are changing jobs, retiring or need to decide what to do with the money left in your former employer's retirement plan, a Rollover IRA may be a beneficial retirement plan for you.  A Rollover IRA is simply a Traditional IRA that will help you retain control, provide greater flexibility for your retirement savings and allow your savings to continue to grow tax-deferred.

If you roll over retirement funds to a Traditional IRA, it does not affect your eligibility to make a contribution for the current tax year.

Protection from Taxes
The primary advantage of a Rollover IRA is that it protects prior savings from taxes and penalties that might be due if you received the money yourself.  

With a Rollover IRA, you don’t have to leave your savings under the control of your employer’s retirement plan.  You control how your money is invested.  You can even consolidate assets from more than one employer-sponsored retirement plan in a single Rollover IRA.  

Tax-deferred Growth
Your contributions and earnings grow tax-deferred until you take a withdrawal.  Compounded tax-deferred growth allows your retirement savings to accumulate more rapidly than they would in a fully taxable account.  

No Annual Fees
Modern Woodmen does not charge an annual fee for Traditional IRA administration.  

Transfer Existing Rollover IRAs to Modern Woodmen
You can consolidate existing Rollover IRAs into a Rollover IRA with Modern Woodmen without causing additional income taxes or penalties.  

More about Rollover IRAs
For more detailed information about Rollover IRAs, visit our description of Traditional IRAs.

An indirect "60-Day" rollover occurs when an individual receives a distribution from an IRA or retirement plan and then contributes an amount to another IRA or retirement plan within 60 days of receiving the distribution.  That amount rolled over cannot exceed the amount of the original distribution.  You may only do one indirect "60-Day" IRA to IRA rollover within a twelve month period.

Securities offered through MWA Financial Services Inc., a wholly owned subsidiary of Modern Woodmen of America, 1701 1st Avenue, Rock Island, IL 61201, 309-558-3100. Member: FINRA, SIPC. Products are available in most states. Individual representatives may not be licensed to sell all products.

Although Modern Woodmen of America does not charge an annual fee on IRAs, management and other fees associated with certain investments may still be charged.