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Knowledge Base Article

Rollover IRA FAQs

I am a Delta employee with a 401(k) with the company through Fidelity. Can I roll my 401(k) into my current IRA or another type of IRA? Do I get the paperwork from Fidelity or can you initiate the process for me?

You may rollover your Delta Family Care Savings Plan 401(k) into an IRA once you are no longer employed by Delta. You have two choices depending on how you want to invest the funds.

If you would like an IRA or IRA Certificate of Deposit (CD) that is savings-based (no investment options) contact the IRA Department at 404-677-4600 for further instructions and to request the forms needed to complete the rollover. Once your IRA is established at the credit union, it will be your responsibility to contact Fidelity to initiate the rollover of funds.

If you would like an IRA with investment options, such as stocks, bonds, mutual funds, etc.,  contact Retirement and Investment Services at 404-677-4890 to set up an appointment with a financial advisor. They will set up an IRA for you and assist with rolling over the funds from Fidelity.

If you have after-tax contributions, 401(a) monies, you may withdraw those funds with no tax due or roll it directly into a Roth IRA. After-tax contributions should be sent to you in a separate check and not combined with pre-tax dollars.

Can I rollover my 401(k) to a Roth IRA at Delta Community?

After-tax contributions to a 401(k), as well as funds in a Roth 401(k), can be rolled over to a Roth IRA. If you would like to rollover 401(k) pre-tax contributions to a Roth IRA, we recommend that you consult a financial advisor with Delta Community (404-677-4890), or a qualified tax professional, due to the possible tax consequences.

I am retiring. Can I rollover my 401(k) to an IRA at Delta Community?

Yes, you can. If you would like an IRA or  IRA CD that is savings-based (no investment options), contact the IRA Department at 404-677-4600 for further instructions and to request forms needed to complete the rollover. Once your IRA is established at the credit union, it will be your responsibility to contact your plan administrator to initiate the rollover of funds. 

If you would like an IRA with investment options, such as stocks, bonds, mutual funds, etc., contact Retirement and Investment Services at 404-677-4890 to set up an appointment with a financial advisor. They will set up an IRA for you and assist with rolling over the funds from your plan administrator.

If I am involuntarily furloughed or accepted a voluntary leave of absence, early retirement or severance package, can I move my 401(k) into an IRA account?

You would need to check with your 401(k) plan administrator concerning a furlough or leave of absence. For early retirement and a severance package you can rollover your 401(k) to an IRA. If you would like an IRA or IRA CD that is savings-based (no investment options), contact the IRA Department at 404-677-4600 for further instructions and to request forms needed to complete the rollover. Once your IRA is established at the credit union, it will be your responsibility to contact your plan administrator to initiate the rollover of funds.

If you would like an IRA with investment options, such as stocks, bonds, mutual funds, etc., contact Retirement and Investment Services at 404-677-4890 to set up an appointment with a financial advisor. They will set up an IRA for you and assist with rolling over the funds from your plan administrator.

I rolled over a 401(k) from a former employer to an IRA. How do I transfer that to a Delta Community Credit Union IRA?

You have two choices depending on how you want to invest the funds in your IRA. If you would like an IRA or IRA CD that is savings-based (no investment options), contact the IRA Department at 404-677-4600 for further instructions and to request forms needed to complete the transfer. Once your IRA is established at the credit union, we will request the transfer from your current custodian or trustee.

If you would like an IRA with investment options, such as stocks, bonds, mutual funds, etc., contact Retirement and Investment Services at 404-677-4890 to set up an appointment with a financial advisor. They will set up an IRA for you and assist with transferring the funds from your current custodian or trustee.