Did you know that if you have a retirement plan, such as a 401(k) plan from a previous employer or an IRA plan, you can roll that plan into our Local 26 Individual Account Plan (IAP)? Of course, the decision to do that is entirely up to you, the plan holder, but consolidating your retirement plans has a few benefits.

Rolling any extra retirement plans you may have into our IAP will help you stay organized in not only managing all of your retirement savings plans but also knowing what you have accumulated overall for retirement. Additionally, rolling your savings into one plan will make it easier for your beneficiaries in the event of your passing.

As a reminder, our IAP is professionally managed by Fidelity Investments so plan participants have access to a wealth of information and guidance from industry experts. Plan participants are able to make investment decisions with their IAP if they wish to take an active role in managing their savings, or they can leave their savings invested in more turnkey target date funds, created with a participant’s retirement date in mind.

If you have other retirement plans you wish to roll into the IAP, contact the Benefits Office at 301-731-1050 and ask for Retirement Services.