When you move to a higher tier, you can earn more, save more and get more back — including extra interest on an eligible savings account, a bigger rewards bonus on eligible Bank of America® credit cards, and $0 online stock and ETF trades with a Merrill Edge® Self-Directed account. Other fees may apply.
Your Preferred Rewards tier is based on your 3-month average combined balance in your eligible Bank of America deposit and/or Merrill investment accounts. Here’s the minimum balance requirement for each tier:
Understand your choices when it comes to your old 401(k). Merrill can help you find what may best fit your needs: rolling it over to an IRA, maintaining it in a 401(k) with a new or former employer or cashing out.
You have choices for what to do with your employer sponsored retirement plan. You may be able to roll over to a Traditional or Roth IRA, roll over to a 401(k) at a new employer, take a distribution or leave the account where it is, depending on your unique financial needs and retirement goals. Each option presents different benefits and limitations with regard to available investment choices and services, fees and expenses, withdrawal rules, required minimum distributions, tax treatment, and protection from creditors and legal judgments. Additionally, there are limits to how often and when you can roll over your account. Be sure to review your Rollover IRA choices at merrilledge.com/retirement/rollover-ira or call a Merrill Edge specialist at 888.637.3343 for additional information about your choices.
Did you know that there are 2 ways to move assets from one IRA to another? The most common is a transfer. This is when you transfer assets from an IRA held at one financial institution to an IRA at another. You may directly transfer assets between investment firms as frequently as you wish. The second, less common approach is called a rollover. Rollovers occur when you withdraw assets from an IRA and then roll those assets back into the same IRA or into another one within 60 days. IRS rules limit you to 1 rollover per client per 12-month period. If you have questions or want to learn more call 888.637.3343 or consult a tax advisor.
We’re here to help. Call us at 888.888.7937 today. If you prefer, schedule an appointment online.