rollover

Definitions (2)

1. A tax-free reinvestment of a distribution from a qualified retirement plan into an IRA or other qualified plan within a specific time frame, usually 60 days. These transfers can happen when leaving a job at an employer who offered a retirement plan such as a 401(k) plan. The company can issue a check for the amount minus 20% in withheld taxes. To avoid this penalty, the rollover must be done trustee to trustee, meaning that the check is made out to the new trustee or custodian of the rollover IRA. The company will provide the check and the participant must deposit the check into the new account within 60 days.
also called IRA rollover.
2. More generally, a movement of funds from one investment to another.

Use rollover in a sentence

You may find that it is best to just use rollover and then you will have to deal with it the next time.

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The dog was leaning how to rollover and it was very sweet to see. because he could not quite do it yet.

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The rollover was excellent as we were concerned about the retirement account being optimally operating so now our concerns were alleviated.

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