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What is a Direct Rollover?

pension plan rollover
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What is a Direct Rollover?

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A direct rollover is the payment of your plan distribution directly to a traditional IRA or other eligible retirement plan of your choice. Your direct rollover distribution check may be given to you or sent directly to ING DIRECT or ShareBuilder.

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A direct rollover is a QRP or TSA distribution that is sent directly from the plan administrator (employer) to an IRA. Such distributions are not subject to the mandatory 20 percent federal income tax withholding.

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With a direct rollover the assets are sent directly to the AARP Funds, or at the very least, a check is issued to you, made payable to the AARP Funds, which you can then invest in your AARP Funds IRA account.

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