A rollover IRA is when you take an account you already have—like an existing IRA or 401(k)—and roll it over into a new IRA . This might make sense when you change to a new job and want to rollover your 401(k) into an IRA, or if you decide you want to consolidate multiple accounts into one IRA. You may be able to choose from two kinds of IRAs for your rollover: a Traditional IRA or a Roth IRA
Rollover Options
Know your rollover options1
What you do with the money in your old retirement plan can significantly impact tomorrow's income.