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Getting Ready for a Job Change?

Consider the Options Before You Withdraw From Your Retirement Savings Account

Whether you’re in the process of changing jobs or getting ready to retire, you may have an important decision to make about your current retirement savings account. Before you begin to withdraw any money, be sure to consider your options.

MassMutual is here to help. We’ve provided a brief summary of your options below, but we encourage you to call a retirement specialist at (800) 854-0647 to talk them through. It’s your money, and it’s important to review the pros and cons before you make a decision.

So What Are Your Options?

Which option is right for you? Your MassMutual retirement specialist will provide you with the information and one-on-one assistance you need to decide with confidence.

OPTION 1: LEAVE IT ALONE

  • Assets remain tax deferred
  • Familiar investment options
  • You may need to maintain a minimum account balance to stay in the plan

OPTION 2: ROLL IT OVER TO AN IRA

  • Assets remain tax deferred
  • Broad array of investment options
  • You have direct control over your account

OPTION 3: CONSOLIDATE IT INTO YOUR NEW EMPLOYER’S PLAN*

  • Assets remain tax deferred
  • Investment options may or may not be comparable to your previous plan

OPTION 4: CASH IT OUT (Partial or Lump Sum Distribution)

  • Potential tax implications
  • Cash payout stops earning interest, and is easy to spend

Call Your MassMutual Retirement Specialist

MassMutual is here to help you achieve a secure retirement on your own terms. That commitment doesn’t stop when you change jobs or retire. Call your MassMutual retirement specialist at (800) 854-0647 for a complimentary consultation. We’ll help you make the decision that’s right for you.

*Investors should consider the impact of transfer fees, the loss of vested benefits and/or   surrender charges that may be imposed by their current plan when funds are rolled over.

The information provided is not written or intended as specific tax or legal advice. MassMutual, its subsidiaries, employees and representatives are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel.

© 2019 Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001.  All rights reserved. www.massmutual.com.

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