Individual Retirement Rollover Account (IRRA® account)

Don't know where to start? We'll help you find solutions that are right for your business. Start here.

When employees retire, change jobs or separate from employment for other reasons, they may need help deciding how to handle their retirement assets. Since the tax consequences of taking distributions can significantly impact their savings, what they choose to do with that distribution can have a lasting impact. Merrill Lynch’s Individual Retirement Rollover Account (IRRA® account) is designed to give your employees the flexibility and control they need, allowing them to deposit eligible distributions from their qualified retirement plan.

  • Employees gain greater control over their assets
  • Assets continue to grow, tax-deferred
  • Choose from several rollover alternatives, including converting assets from a traditional IRA to a Roth IRA

IRRA Account Features

Description

Employees can establish an Individual Retirement Rollover Account (IRRA® account) to deposit eligible distributions from their qualified retirement plan.

Eligibility

Participants may establish a Merrill Lynch IRRA account if they receive an eligible rollover distribution from their employer’s qualified retirement plan.

Rollover options

When employees transfer their distribution into an IRA rollover account, they can continue to take advantage of tax-deferred growth while keeping other options open. Later, clients can choose from several rollover alternatives, including the following:

  • If eligible, convert assets from a traditional IRA to a Roth IRA.
  • Transfer assets into a new employer’s qualified retirement plan. (To be eligible for rollover to a new qualified plan, rollover assets must be kept in a separate IRA account.)

Related Products & Services

For your business financial needs:

For your personal financial needs:

 

For more information call 1.866.4ML-BUSINESS (465-2874) or e-mail us at AskMLBiz@ml.com.

Merrill Lynch, Pierce, Fenner & Smith Incorporated is a registered broker-dealer, not a bank, and the WCMA account is not a bank account. Banking services are provided by licensed banks or by third parties through arrangements with licensed banks. Unless otherwise indicated, investment products are not FDIC-insured, not guaranteed by a bank and may lose value.

Working Capital Management Account and WCMA are registered service marks of Merrill Lynch & Co., Inc.

Neither Merrill Lynch nor its representatives provide legal or tax advice. You should consult with your own legal/tax advisor regarding your particular situation.

* Additional fees for these services may apply.

© 2008 Merrill Lynch, Pierce, Fenner & Smith Incorporated. Member, Securities Investor Protection Corporation (SIPC).