• Consolidate your savings in one, easy-to-manage account

Rollover IRA Consolidation

A Rollover IRA helps you avoid taxes and penalties when you move money from one tax-deferred account — like an employee pension, 401(k), 403(b), 457 plan, or IRA — to a Rollover IRA. Once you have consolidated your investments, your money continues to grow tax deferred until withdrawal.

For conservative investors, an FDIC-insured savings IRA option is offered by First Tennessee Bank. Investment options such as stocks, mutual funds, and bonds are available through FTB Advisors, Inc.

Product Features

  • Move money from a 401(k), 403(b), 457, or other company plan to a tax-deferred IRA, or from one IRA to another
  • Pay no income taxes or penalties on the money you move, assuming certain conditions are met
  • Tax-deferred growth until you withdraw money
  • Withdrawals are taxed as ordinary income*

Product Benefits

  • Choose a savings IRA or brokerage IRA option
  • Ideal if you are changing jobs or want to consolidate
  • Withdrawals are allowed for certain home purchases, college tuition, and major medical expenses without penalty by the IRS
  • Freedom to rollover to another company plan at a later date

*Early withdrawal penalties on earnings prior to age 59½ are 10%, with possible state penalties as well.

Insured Savings IRAs:

  • FDIC-insured for up to $250,000
  • Based on variable rate savings or CDs
  • Will not lose principal value
  • No account opening or maintenance fees
  • Early withdrawal penalties may apply to CDs redeemed before maturity date
  • Minimum investments beginning at $500

Brokerage IRAs:

  • Returns fluctuate based on investments
  • Self-directed or professionally-directed
  • Opportunities for higher returns, or for principal to lose value
  • More risk, not FDIC-insured
  • Minimum investment is $2,000

The Securities and Exchange Commission requires broker-dealers to publish certain order related data. Click here to view this data as required by Rule 606.

Statement on Business Continuity

  • Get retirement savings that put you behind the wheel

Insurance Products, Investments & Annuities: Not A Deposit | Not Guaranteed By The Bank Or Its Affiliates | Not FDIC Insured | Not Insured By Any Federal Government Agency | May Go Down In Value

Insurance Products and Annuities:  May be purchased from any agent or company, and the customer’s choice will not affect current or future credit decisions.

FTB Advisors is the trade name for wealth management products and services provided by First Tennessee Bank National Association (“FTB”) and its affiliates. Financial planning and trust services provided by FTB. Investment management services, investments and annuities available through FTB Advisors, Inc., member FINRA, SIPC, and a subsidiary of FTB. Arkansas License # 416584. Insurance products available through FTB Advisors Insurance Services, Inc. (”FTBIS”), a subsidiary of FTB. Arkansas License # 247414. In some states, insurance products and annuities are provided by First Horizon Insurance Services, Inc. (“FHIS”), a Tennessee corporation, and a subsidiary of FTB. The principal place of business of FHIS is 165 Madison Ave., Memphis, TN 38103. California License # OD12174. FTBIS, FTB Advisors, Inc., and FHIS may transact insurance business or offer annuities only in states where they are licensed or where they are exempted or excluded from state insurance licensing requirements. FTB Advisors does not offer tax or legal advice. You should consult your personal tax and/or legal advisor concerning your individual situation.

©2014 First Tennessee Bank National Association. www.firsttennessee.com