If you have savings in another retirement account, you may be able to roll it over into your Gusto Retirement account and consolidate your savings in one place. This article explains which accounts are eligible, why a rollover may be worth considering, and how to get started.
If you have retirement savings with other providers, you may be able to roll them over into your Gusto Retirement account. Whether you can move your funds depends on the type of account they are coming from and the type of account they are going to.
Important: Consider speaking with a financial adviser or tax advisor to determine the best course of action for your situation. Evaluate all providers equally before executing any transaction from your prior provider.
Not all retirement accounts can be rolled into one another. The chart below can help you determine if your funds are eligible for a rollover to Gusto Retirement.
Rollover from:
Traditional IRA
Roth IRA
SEP IRA
401(k)
Traditional IRA
Yes
Yes
Yes
Yes
Roth IRA
No
Yes
No
No
SEP IRA
Yes
Yes
Yes
Yes
SIMPLE IRA¹
Yes (after two years)
Yes (after two years)
Yes (after two years)
Yes (after two years)
529 college savings plan²
No
Yes
No
No
Eligible traditional 401(a), 401(k), 403(b), and more³
Yes
Yes
Yes
Yes⁴
Eligible Roth 401(a), 401(k), 403(b), and more³
No
Yes
No
Yes⁴
Rolling over your other retirement accounts to Gusto Retirement can help with the following:
Streamlined savings — More easily keep track of your contributions, total savings, and portfolio performance with all your retirement funds in one place
Investment choices — With a Gusto Retirement account, you have access to six professionally managed portfolios or the ability to build a custom portfolio of available funds
Low costs — Gusto Investments selects low-cost index funds, helping you keep more of your retirement savings.⁵ We also do not charge for routine transactions like loans, rollovers, and distributions
Find out how to begin the rollover process with Gusto Retirement.
¹ SIMPLE IRAs cannot be rolled over to a Traditional IRA, Roth IRA, or 401(k) (pre-tax) unless at least two years have passed since the first contribution was made to the SIMPLE IRA. Starting in 2024, the two-year requirement may be waived for SIMPLE IRA plans that terminate mid-year and transition to a Safe Harbor 401(k) plan, as long as the SIMPLE IRA balance is rolled into a 401(k) or 403(b) plan that meets certain requirements.
² There are specific requirements that must be met before assets in a 529 plan can be rolled over to a Roth IRA.
³ Funds will be distributed between traditional and Roth balances based on their origin. For example, Roth funds will roll over to a Roth balance.
⁴ Non-Roth after-tax funds in a 401(k) cannot be rolled over to a Gusto 401(k).
⁵ Investment advisory services for Gusto's 401(k) product (when 3(38) fiduciary services are appointed) and SEP IRA/IRA products are offered by Gusto Investments, LLC, an SEC-registered investment adviser. The managed portfolios have blended expense ratios ranging from 0.058% to 0.061% of assets under management. Expense ratios for custom portfolios will vary. These expense ratios are subject to change by and paid to the fund(s). There may be sales tax applied to your invoice depending on the state in which you are located.