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Subject:  Re: Rolling over multiple IRAs Date:  1/4/2014  2:45 PM
Author:  BruceCM Number:  74053 of 88104

There really is no such thing as a rollover IRA.

Prior to EGTRRA of 2001, a 'rollover IRA' was a form of IRA that could receive assets from an employer sponsored retirement plan, hold them, and then was able to roll this over to another employer sponsored retirement plan, providing it was kept distinct and separate, as I recall was the IRS terminology.

Today, plans are fully portable between one another, if plans allow for it, and so there is no need for a 'rollover' IRA, although I understand it is still used for asset protection purposes, as retirement plan assets within a 'rollover' IRA receive ERISA protection from creditors, whereas IRA asset protection is limited to $1.17MM or greater if the state allows.

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