Rollovers and Transfers

Got Other Retirement Assets? Why Not Consolidate Them With Your CCOERA Account

Many participants choose to move their other retirement assets from prior employers into their CCOERA account. It's easy to do and offers many benefits, including:

  • Potential savings - Compare our competitive rates to the fees that your other retirement plan providers charge
  • Simplicity - Manage all of your accounts in one place
  • Clarity - Get a more complete view of your retirement income statement

All of the money invested in your CCOERA retirement savings account continues to grow while also being tax-deferred and sheltered from current income tax. Additionally, you can continue to access CCOERA's unparalelled support and services, including flexible investment options and professional retirement counseling.

Eligible Prior Retirement Accounts

  • 401(a)
  • 401(k)
  • 403(b)
  • 457(b)
  • Most IRAs

How To Roll Over Other Retirement Assets to CCOERA

You will need:

  • Prior retirement provider's instructions and form to initiate a rollover to your CCOERA account
  • Prior retirement account statement
  • CCOERA 401(a) or 457(b) incoming rollover form, which can be obtained either by logging into your account or by calling 800.352.0313

The process:

  1. Contact the administrator for your other retirement plan(s) to initiate a rollover to your CCOERA account.
  2. The plan administrator will discuss where the rollover check will be mailed.
  3. Mail the following to CCOERA at 751 Southpark Drive, Littleton, CO, 80120, attention: Mike Whalen.
  • Account statement for the retirement plan you are rolling over from
  • Rollover check (BE SURE TO INCLUDE THE CHECK STUB)
  • CCOERA incoming rollover form

Be sure to make a copy of all documents for your records before mailing them to CCOERA. If you have questions or require assistance with the transfer/rollover process, please contact CCOERA Retirement Plan Services Manager Mike Whalen at 720.493.6503.

 

How To Roll Over to Another Provider

If you leave a CCOERA employer, you do not need to close your CCOERA account. However, if you would prefer to transfer your CCOERA retirement plan and/or CCOERA deferred compensation account to your new employer's retirement plan, or to an IRA, the money in your account is transferred directly into an account that continues to maintain a tax-deferred status. The laws regarding pension portability allow you to roll over all or a portion of the money in your account, including deferred compensation balances. However, some investment providers may not accept a rollover of deferred compensation money, due to the unique tax treatment of these types of funds. CCOERA maintains the systems and expertise necessary to administer both retirement plan accounts and deferred compensation accounts - separately or together.

To execute a direct rollover of your CCOERA 401(a) retirement account or 457(b) deferred compensation account) to a different provider, you will need to complete a separation from employment withdrawal form, which can be obtained either by logging into your account or by calling 800.352.0313.

Potential Downsides of Transferring to a Different Provider:

  • Less savings - Compare our competitive rates to the fees that your other retirement plan providers charge
  • Different investment options - You'll be limited to the other provider's investment options
  • Fewer advantages – You become subject to the rules governing the new plan, for instance other plans might not offer exemptions for early withdrawals similar to CCOERA
  • Limited transfer options - Your new employer's plan may not accept transfers such as the 457 plan