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Beethoven, Tell Tchaikovsky The Rollover News

Beethoven, Tell Tchaikovsky The Rollover News

November 22, 2021


If Ludwig were alive today, had a retirement account, and you were his financial advisor (which is a fun thought), there are some things you would want to know before giving him any "rollover recommendations". 

Did you know that with respect to PTE 2020-02, the DOL has expanded their definition of "rollover" to include:

  • A rollover from an employer-sponsored retirement plan to an individual retirement account (IRA)

  • A transfer of assets from one IRA to another IRA

  • A rollover from an employer-sponsored retirement plan to another employer-sponsored retirement plan

  • A rollover from an IRA to an employer-sponsored retirement plan

  • A transfer from one retirement account type to another retirement account type.

Also, in regards to the use of annuities, PTE 84-24 still stands, but the SECURE Act has made it easy for institutions that administer plans to offer their own in-plan annuity contracts with a safe harbor exemption for the plan sponsor. 

What does this mean for you as an advisor?

It doesn't just mean that rollovers are obviously more regulated, but that your clients may be lured into an annuity that may or may not be right for the overall plan you've built with their family and legacy in mind.

It's time to talk to all of your working clients about growing their retirement plan assets with the In-Plan Advice you can offer them now. Your advice, together with the newest choices from our Strategy PLUS platform, means your clients no longer have to wait for customized retirement planning advice and management.   

At TPFG, we've built an In-Plan Advice option with you and your clients in mind. Help them now while growing your assets under management at a rate you'll want to experience. 




Disclosure: The information provided herein is the opinion of The Pacific Financial Group (“TPFG”), a registered investment adviser, and may change without notice at the discretion of TPFG. TPFG makes no warranties as to the accuracy of the information or any representations made or implied at any time given. The information should not be construed or interpreted as an offer or solicitation to purchase or sell a financial instrument or service. The information is for informational purposes only and should not be relied on or deemed the provision of tax, legal, accounting, or investment advice. Past performance is not a guarantee of future results. All investments contain risks to include the total loss of invested principal. Diversification does not protect against the risk of loss.

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