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Rollover After 59 1/2

aaflygirl
  |     |   87 posts since 2016

Is it a common practice for a credit union to let you do a rollover from an IRA CD (total withdrawal) in order to waive the EWP and then, redeposit for a higher rate IRA CD if you are over age 59.5? I realize that I can only do one of those a year or there are tax implications.

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SouthernGirl
  |     |   210 posts since 2022
My opinion is no. It depends on the institution that holds the IRA. You will need to obtain your options at that institution. If at Navy FCU, you would be allowed to do this at this time. Does your institution allow a direct transfer on an IRA over 59 1/2, without an EWP? Will your institution negotiate with you on obtaining a higher rate without an EWP?
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