CLIENT RESOURCE

Roll over your retirement plan to Altruist

A direct rollover moves money from your employer plan straight to your IRA at Altruist. Your plan sends the funds payable to Altruist for your benefit, so nothing is withheld for taxes, and there's no 60-day deadline to manage.

Schedule a call with us
Do it yourself: see the steps

These steps are for employer plans such as 401(k), 403(b), 457, and the Thrift Savings Plan. Moving an existing IRA? That's usually simpler, and we can start the transfer for you

Before you call your plan, check with us if any of these apply

  • Your plan holds your employer's stock. There may be a tax planning opportunity that a standard rollover would give up, and it can't be undone afterward.
  • You made after-tax (non-Roth) contributions. These are often handled differently from your pre-tax balance, so we'll want to plan where each part goes.
  • You've reached the age for required minimum distributions. This year's RMD generally has to be taken before the rollover, and that amount can't be rolled over.
  • You have an outstanding plan loan. Leaving the plan may turn the unpaid balance into a taxable distribution unless it's repaid or rolled over in time.
  • Your account is in the Thrift Savings Plan or TIAA. These requests are generally made online or with forms rather than by phone. We can walk you through it.

What you’ll need

Have these handy before you call

Your Altruist account number(s)

We'll open your Rollover IRA, and a Roth IRA if your plan holds Roth dollars, and send you the full account numbers before you call.

A recent plan statement

It shows your balances, the types of money in the plan, and your plan's phone number. If you haven't already, please upload a copy securely.

Anything extra your plan requires

  • A transfer form your plan provides

  • A letter of acceptance from Altruist: email your statement and the plan's form to support@altruist.com

  • Spousal consent, which is often notarized

Steps to complete your rollover

If you're rolling funds over, a direct rollover is the method we recommend.

  1. Call your plan and request a direct rollover

    Use the phone number on your statement and ask for a direct rollover to an IRA. Your plan may ask whether you've reviewed its tax notice. If you haven't, they'll send it and may wait for you to acknowledge it before going ahead.

    A direct rollover to an IRA of the same tax type (pre-tax to a Rollover IRA, Roth to a Roth IRA) generally isn't taxable.

  2. Give them the check instructions

    Make checks payable to:

    Altruist Financial LLC FBO [Your Full Name]

    Ask them to write your full account number and name in the memo (for example, "01234567 Jane Smith"). If they won't, you can add it when the check arrives.

    Pre-tax and Roth money need separate checks:

    Pre-taxto your Rollover IRA account number
    Rothto your Roth IRA account number
    After-tax (non-Roth)check with us first

    Don't have a check made payable to you. Your plan would generally withhold 20% for taxes, and you'd have 60 days to deposit the full amount, including the 20% from other funds, to avoid tax on the difference.

  3. Have the check sent to Altruist

    If possible, have your plan mail checks directly to Altruist. We recommend certified mail or tracking.

    Standard mail (USPS)Altruist
    PO Box 219069
    Kansas City, MO 64121
    Overnight (FedEx, UPS)Altruist
    801 Pennsylvania Ave, Suite 219069
    Kansas City, MO 64105

    Some plans will only mail the check to you. If so, forward it to Altruist with this deposit slip, check the box for "60-day or Direct Rollover Contribution," and make sure your account number is on the memo line.

  4. Give us a heads-up

    Once you've requested the rollover, email us with the approximate amounts. We'll watch for the funds, confirm with you when they arrive, and invest the account according to your plan.

    Most rollovers take two to four weeks, though some plans are slower.

Prefer to do this together?

We're happy to get on the phone with you and your plan administrator, help with paperwork, and track the transfer until it's complete.

Email us to schedule a call

Important information about your rollover decision

As a registered investment adviser, Oakleigh Wealth Services is a fiduciary to you. When we give you advice about your retirement assets, we must act in your best interest and not put our own interests ahead of yours. Before we recommend a rollover, we consider whether it’s in your best interest given your circumstances and the options available to you.

Our compensation. Oakleigh Wealth Services charges a fixed advisory fee. It isn’t calculated as a percentage of the assets we manage. As a result, our fee generally does not increase if you roll your retirement assets into an account we manage. This reduces the conflict of interest that comes with recommending a rollover to an account under our management, but it doesn’t remove that conflict entirely. We include this disclosure so you have a complete picture of your options.

Your options. You have choices about your retirement assets. In some cases, you can leave them in your current plan, move them to a new employer’s plan (if you’re eligible), roll them to an IRA, or take a cash distribution, which may have tax consequences. Your employer may pay some or all of your plan’s fees and may offer services or benefits that an IRA doesn’t. We encourage you to ask your plan sponsor about the fees, services, and benefits available in your plan. Useful documents include recent plan statements, the Summary Plan Description, the Special Tax Notice (IRC §402(f) notice), and the plan’s fee disclosure (ERISA §404(a)(5)).

This disclosure supplements our Form ADV Part 2A Firm Brochure and Form CRS, which we encourage you to review as well.