Transfer Your Retirement Plan

UPDATE: The deadline to transfer your account has been extended to September 22, 2017.

Step One:

Choose a new retirement vehicle to hold your funds.

Freelancers Union's 401(k) retirement plan with Amalgamated Bank will be closing effective September 1, 2017. UPDATE: The deadline has been extended to September 22, 2017. You may transfer your retirement savings into another retirement plan of your choosing to avoid any tax penalties, or you may choose to take a distribution. Click here to read the full notice.

IRA with Honest Dollar

One option is a new IRA account with Honest Dollar.

Visit Honest Dollar

If you open an Honest Dollar account, the Honest Dollar Client Service team intends to contact you via email with further instructions within one business day.

Do you maintain both traditional and ROTH accounts? Please note that Honest Dollar can support either one but not both at the same time. Other IRA providers may support both.

Single(k) with Ubiquity

Another option is to continue with an individual 401(k) with Ubiquity. They offer ROTH and Pre-Tax contribution options as well as loan provisions. You can choose the financial custodian.

Visit Ubiquity

To set up an account with Ubiquity, please contact singlek@myubiquity.com for a personalized appointment with one of their Single(k) Specialists.

Do you have an outstanding loan or plan to take a loan out of your 401(k)? Some 401(k) plans support this, including those from Ubiquity. IRA plans do not permit loans.

Step Two:
Move Your Money

Once you have an open account ready, request a transfer or rollover from Amalgamated to have your retirement savings transferred to your new account.    

Visit Amalgamated

The Amalgamated site will ask you for the details regarding your new retirement account so funds can be transferred. Your new account may also require certain paperwork in order to complete the process.

Step Three:
Keep Saving

Make sure to set up a savings plan with your new account.  Even a little now can make a big difference down the road.

Questions?
Email us at membership@freelancersunion.org.

You can transfer your money into any retirement account you choose, including another provider not mentioned on this site or you can choose to receive a distribution.

Neither Freelancers Union, Honest Dollar nor Ubiquity provides accounting, tax or legal advice. Nothing communicated to you on this website should be considered tax or investment advice. You should consult an independent professional regarding your personal circumstances. Freelancers Union will receive no compensation of any kind should you choose to transfer your account to either Honest Dollar or Ubiquity.