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Is a Rollover into an IRA the Right Move for You as a Apollo Global Management Employee?

Choosing an IRA rollover means that your money remains tax-advantaged and capable of growth, as in a Apollo Global Management-sponsored plan. You may also gain more investment options than what may have been available in your Apollo Global Management-sponsored plan. You may also gain oversight of managing these important retirement assets from your trusted Advisor.

If you roll your retirement plan assets over into an IRA account that you already own through your Advisor, you also receive the benefit of combined statements and holistic investment planning, making it easier to track your overall financial situation.

'Receive the benefit of combined statements and holistic investment planning, making it easier to track your overall financial situation.'

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Some of the benefits of rolling your money into an IRA include:

Tax-deferred growth potential: This generally avoids current income tax and distribution penalties when removed from a Apollo Global Management-sponsored retirement plan.

More investment choices: This allows for additional contributions, if eligible. IRAs can be combined and handled by one provider, thereby reducing trustee costs and consolidating statements. Protection from creditors in federal bankruptcy proceedings. The combined amount of your required minimum distributions (RMDs) can be taken from any of your Traditional, SEP or SIMPLE IRAs.

However, there are also some important considerations that Apollo Global Management should make before rolling over their money into an IRA, these include:

Internal management fees might be higher than in a Apollo Global Management-sponsored retirement plan.
Fees and expenses depend largely on the investments you choose.
Loans from an IRA are not allowed.
Early distributions may be subject to a 10% IRS tax penalty in addition to income tax.
RMDs begin April 1 following the year you reach 70½ and annually thereafter; leaving the money in the former Fortune-500 plan may allow RMDs to be delayed until separation from service.
IRAs are subject to state laws governing malpractice, divorce, creditors (outside of bankruptcy), and other lawsuits; leaving the money in the former Apollo Global Management-plan may provide additional protection against creditors.
Net unrealized appreciation (NUA) is the difference between what you paid for employer securities and their increased value. You lose favorable tax treatment of NUA if the funds are rolled into an IRA.

Hopefully, these insights will be helpful as you plan your retirement from Apollo Global Management.

For more information about this topic, view our e-book here: https://retirekit.theretirementgroup.com/will-your-retirement-plan-retire-with-you-e-brochure-offer

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What is the 401(k) plan offered by Apollo Global Management?

The 401(k) plan at Apollo Global Management is a retirement savings plan that allows employees to save a portion of their salary on a tax-deferred basis.

How can I enroll in the 401(k) plan at Apollo Global Management?

Employees can enroll in the Apollo Global Management 401(k) plan by completing the enrollment process through the company’s HR portal or by contacting the HR department for assistance.

What types of contributions can I make to the Apollo Global Management 401(k) plan?

Employees at Apollo Global Management can make pre-tax contributions, Roth (after-tax) contributions, and may also have the option for catch-up contributions if they are age 50 or older.

Does Apollo Global Management match employee contributions to the 401(k) plan?

Yes, Apollo Global Management offers a matching contribution to the 401(k) plan, which helps employees increase their retirement savings.

What is the vesting schedule for employer contributions in the Apollo Global Management 401(k) plan?

The vesting schedule for employer contributions at Apollo Global Management typically follows a graded vesting schedule, which means employees earn rights to employer contributions over a specified period.

Can I take a loan against my 401(k) at Apollo Global Management?

Yes, Apollo Global Management allows employees to take loans against their 401(k) plan balance, subject to certain terms and conditions.

What investment options are available in the Apollo Global Management 401(k) plan?

The 401(k) plan at Apollo Global Management offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

How often can I change my contribution amount in the Apollo Global Management 401(k) plan?

Employees at Apollo Global Management can change their contribution amount at any time, typically through the HR portal or by contacting HR.

What happens to my 401(k) plan if I leave Apollo Global Management?

If you leave Apollo Global Management, you can choose to roll over your 401(k) balance to another retirement account, leave it in the Apollo plan (if eligible), or cash it out (subject to taxes and penalties).

Is there a minimum contribution requirement for the Apollo Global Management 401(k) plan?

Yes, Apollo Global Management may have a minimum contribution requirement for employees participating in the 401(k) plan, which is typically communicated during the enrollment process.

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For more information you can reach the plan administrator for Apollo Global Management at 9 W 57th St New York, NY 10019; or by calling them at (212) 515-3200.