RSI In The News
The Wall Street Journal features RSI in a story titled "Don't Raid Your 401(k)".
When leaving a job, you may be tempted to convert your 401(k) savings into an emergency cash stash. But don't underestimate the blow to your retirement nest egg.
Silvaggi, who fills a newly-created position made necessary by increasing demand for RSI’s services, brings 15 years of experience in marketing, product development and sales to RSI. Most recently he was director of marketing at Prudential Retirement, where he managed strategy, planning and analysis of participant programs.
Distributions not rolled over into a new 401(k) or an individual retirement account within 60 days are subject to income tax as well as a 10% penalty if you are younger than 59½. In contrast, if you stay in a retirement account, investment gains may accumulate tax-deferred for decades.
You can get an idea of what your account would be worth at retirement vs. today using a calculator from RolloverSystems, a firm that supplies services to 401(k) plans...