Rollover Individual Retirement Account

Definition of "Rollover individual retirement account"

Windy Zabojnik
Windy Zabojnik The Real Estate Company

Individual retirement account (IRA) established to receive distribution of assets from a qualified pension or retirement plan. For example, if employees resign from their jobs and receive a lump sum distribution of $75,000, they may roll it over into an IRA without paying taxes. Rollover IRAs are governed by the same tax rules as other IRAs. They provide a way to maintain the tax-deferred status of distributions from pensions or other qualified plans until an age specified by law, when withdrawals must begin.

Have a question or comment? We're here to help.

*** Your email address will remain confidential.

Search Real Estate Terms

Popular Real Estate Terms

Popular Real Estate FAQ