LGE is closed Wednesday, January 1 in observance of New Year's Day.
Manage the risk when saving for your retirement.
IRAs & Rollovers
IRAs
We provide a variety of choices for your IRA. Whether you are a conservative investor, or you want to take on a little more risk to possibly get a higher return, our financial advisors, registered through CUSO Financial Services, L.P.*, can help you assess the best investment for your situation.
We can also help you rollover an existing IRA**. This is a tax-free transfer of cash or other assets from one retirement program to another***. There are two kinds of rollover contributions to an IRA:
- In one, you transfer the proceeds of all or part of a distribution from one IRA to another. This can be done only once every twelve months.
- In the other, you may transfer an eligible rollover distribution from a qualified plan, a tax-sheltered annuity plan or a governmental 457 deferred compensation plan to a Traditional IRA.
401K/Pension Rollover
If you have a 401(k) or a 403(b) account with a previous employer, you may be incurring hidden administrative fees.
The best times to consider rolling over these employer-sponsored investments are:
- When you retire
- When you change jobs
- When you separate from an employer for any reason
Rolling over into a CFS* Investment and Retirement account at LGE may help you:
- Reduce administrative fees, which cut into your earnings
- Continue tax-deferred savings. If you cash out you may owe taxes on the entire amount and may be subject to an early withdrawal penalty
*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. LGE Community Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.
**Before deciding whether to retain assets in an employer sponsored plan or roll over to an IRA an investor should consider various factors including, but not limited to: investment options, fees and expenses, services, withdrawal penalties, protection from creditors and legal judgments, required minimum distributions and possession of employer stock.
***CFS and its representatives do not provide tax advice. For such advice, please contact a tax professional.
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