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Is a Rollover into an IRA the Right Move for You as a SS&C Technologies Holdings Employee?

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Healthcare Provider Update: Healthcare Provider for SS&C Technologies Holdings: SS&C Technologies Holdings does not publicly specify a single healthcare provider as their employees may have multiple options through employer-sponsored health plans and the ACA marketplace. Health insurance offerings commonly include large national insurers like UnitedHealthcare, Anthem (Elevance Health), Aetna, Cigna, and others, depending on the benefits structure set by the company. Blog Post Paragraph on Potential Healthcare Cost Increases in 2026: In 2026, SS&C Technologies Holdings employees may face significant increases in healthcare costs due to rising health insurance premiums, with many leading insurers projecting hikes up to 66%. The anticipated end of enhanced federal premium subsidies could leave nearly 92% of marketplace enrollees, including many SS&C employees, grappling with out-of-pocket premium increases exceeding 75%. As employers reevaluate their benefit strategies, employees may also see a shift towards higher deductibles and out-of-pocket maximums, making it essential to stay informed and prepared to manage these impending expenses. Click here to learn more

Choosing an IRA rollover means that your money remains tax-advantaged and capable of growth, as in a SS&C Technologies Holdings-sponsored plan. You may also gain more investment options than what may have been available in your SS&C Technologies Holdings-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.' brown rocky mountain beside blue sea during daytime

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 SS&C Technologies Holdings-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.

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However, there are also some important considerations that SS&C Technologies Holdings should make before rolling over their money into an IRA, these include:

  • Internal management fees might be higher than in a SS&C Technologies Holdings-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 SS&C Technologies Holdings-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 SS&C Technologies Holdings.

 

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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For more information you can reach the plan administrator for SS&C Technologies Holdings at , ; or by calling them at .

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