401k Rollover

A 401k plan from Wellington Financial Group, Inc. offers a smart place for employees to consolidate their retirement savings accounts. When conducting a 401k rollover, many people actually prefer IRAs to 401ks, because the IRAs usually have more investment options. This is not the case with Wellington's 401k program, however.

Additionally, By rolling the funds to your 401k account you make them available for loans from the 401k plan if loans are permitted by your employer.

Our plan participants have access to over 2,100 mutual funds, stocks, bonds, and CDs through our custodian. We put our cutting-edge technology together with superior service to offer your employees maximum choice and control over their retirement savings. Your new employees will be able to do a 401k rollover from their previous employer to you, simply and directly. In fact, Wellington's "Rollover Valet" service removes the paperwork hassles involved for your employees. Wellington assists the employee in obtaining and completing the forms needed for the transfer process and follows-up until the rollover has been deposited to the new retirement account. This valuable service allows for your employees to focus on their jobs while Wellington does the legwork.

Why Do a 401k Rollover?

Offering this convenience puts your employees' minds at ease and makes your company look like a more desirable place to work. A direct 401k rollover offers benefits, too. The plan participant won't have to have 20 percent of the account withheld for taxes, and their money can continue to grow tax deferred. It simply goes from one retirement account to another.

If you think a retirement plan is too expensive to set up, think again. Wellington Financial Group, Inc. has designed a 401k plan with small businesses, and their budgets, in mind. You can usually set up a plan with us for around $500, and your administrative costs beginning the next year are often under $1,000. As a small business owner, your priority should be running your business. Allow us to administer your 401k plan so that you can focus on your core business without worrying about your employees' retirement plans.

Additionally, certain small businesses that are starting a new retirement plan are eligible for an annual $500 tax credit. The tax credit, available for THREE consecutive years (for a total of $1,500!), is designed to offset the setup and administration fees a small business incurs when setting up a new 401k plan.