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Rollover IRA


IRA Rollover - Option 1

Option #1: Request a direct rollover.

A Rollover IRA or a direct transfer to your new employer's plan is the easiest way to continue the tax-deferred status of your retirement savings. The reason? By directly rolling over your eligible plan distribution, you can:

Avoid current income taxes and any early withdrawal penalty; and keep your money growing tax deferred.

If you choose a direct rollover:

  • Your distribution will not be subject to federal income tax in the current year.
  • No income tax will be withheld from your distribution.
  • Your distribution will be contributed directly to the Rollover IRA of your choice or, if available, your new employer's qualified plan.
  • Your distribution will be taxed at a later date when you withdraw it from your IRA or from your new employer's plan.

How can you avoid paying unnecessary taxes and penalties?

Consider a Northern Funds Rollover IRA or have your savings transferred directly to your new employer's qualified plan

Direct Rollover Advantages

  • Your money can continue to grow tax-deferred until withdrawn
  • Avoids 20% mandatory withholding tax
  • Avoids 10% early withdrawal penalty

Option #2: Receive the distribution in a check made payable to you. 


Not FDIC insured | May lose value | No bank guarantee

You could lose money by investing in the Money Market Funds. Although each of the Money Market Funds seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time.

The Money Market Fund and the Municipal Money Market Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors.

An investment in a Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”), any other government agency, or The Northern Trust Company, its affiliates, subsidiaries or any other bank.

Please carefully read the summary prospectus or prospectus and consider the investment objectives, risks, charges and expenses of Northern Funds before investing. Call 800-595-9111 to obtain a summary prospectus or prospectus. The summary prospectus and prospectus contain this and other information about the Funds.

Shares of the Northern Funds are offered only by a current Prospectus and are intended solely for persons to whom shares of US registered funds may be sold. This site shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of shares of the Northern Funds in any jurisdiction in which such offer, solicitation or sale would be unlawful.

©2019 Northern Funds | Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.