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Rollover and Transfer
For information on initiating a transfer or rollover to AXA Equitable, please call your
Financial Professional.
What is a Rollover?
A rollover is a distribution from an eligible retirement plan that a plan participant
decides to transfer or roll over either directly or indirectly to another eligible retirement plan.
A rollover may be made directly to a different qualified plan or to an IRA, or indirectly, by
paying the distributable amount to the participant first. The participant must then roll over the
distributed amount to another eligible plan within 60 days from the date of distribution.
Amounts distributed, regardless of the tax consequences (which generally are not
immediately taxable to the plan participant) are reportable to the IRS.
What is a Direct Rollover?
A Direct Rollover involves an amount eligible to be distributed to a plan participant, but is
rolled over directly or "trustee-to-trustee", from an eligible retirement plan to
another eligible retirement plan. The participant does not take receipt of the monies. A
direct rollover is reported to the IRS as a distribution, but coded to reflect that it was
invested with another provider. It is not taxable at the time of the direct rollover.
What is a Transfer?
A Transfer differs from a rollover in the fact that plan assets are not distributed to the
participant. The participant is moving his/her assets from one investment vehicle or
investment provider to another approved by the Employer, without leaving the plan. A
transfer is not considered a distribution and is not reported to the IRS.
A transfer to AXA Equitable would only consist of monies from one of the approved providers -
ING, Met Life Resources, TIAA CREF, Travelers, VALIC and Hartford.
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