• Determined by plan administrator
• May be employer-directed and/or self-directed
• May allow insurance

• Expansive choice of investment options
• Self-directed
• Insurance not permitted in any IRA

• Plan participants are bound by the constraints of the plan.
• Assets may be subject to occasional blackout periods that limit account access.

• IRA account holder has full rights of access.
• No blackout periods

• May limit ability to name multiple or contingent beneficiaries
• Spouse beneficiaries can roll plan assets to their own IRA, an inherited IRA or to their employer's plan.
• Non-spouse beneficiaries may roll inherited qualified plan assets to an inherited IRA. Usually your non spouse beneficiary may not leave money in the original plan and take lifetime distributions. Check plan provisions for available options.

• Very flexible beneficiary options.
• Multiple and contingent beneficiary designations, as well as certain custom beneficiary designations are allowed.
• Spouse beneficiaries can roll assets to their own IRA or to their employer's plan, or maintain an inherited IRA.
• Non-spouse beneficiaries can generally spread required distributions over the applicable life expectancy (conditions apply).
• The IRA owner may choose to restrict beneficiary access to the assets.

• Over age 59 1/2
• Separates from service in the year they turn 55 or older
• Disabled, as defined by the IRS
• Taking substantially equal periodic payments
• Death distributions³
• On account of a Qualified Domestic Relations Order (QDRO)
• Other miscellaneous reasons

• Over age 59 1/2
• Disabled, as defined by the IRS
• Taking substantially equal periodic payments
• Death distributions³
• First-time home purchase (up to $10,000)
• Certain medical expenses
• Health insurance premiums while unemployed
• Certain higher education expenses
• Other miscellaneous reasons

• Rollovers from qualified plans to a Roth IRA or inherited Roth IRA are allowed.
• Regular income taxes would apply to any pre-tax dollars when rolled over as a conversion.
• Direct rollovers from designated Roth qualified plan assets to a Roth IRA are allowed.

• Can convert an IRA to a Roth IRA
• Inherited IRA assets can't be converted to a Roth IRA.

• Distributions are generally subject to mandatory 20% federal income tax withholding, unless directly rolled to another eligible plan or IRA.

• Distributions are generally subject to 10% withholding; IRA owners can elect out of the withholding.

• You generally must begin taking RMDs from an employer plan, including Roth 401(k) and Roth 403(b), by April 1 after attaining age 70½ or by April 1 of the year after you retire (whichever is later). There may be exceptions depending on plan provisions and if you're an owner of the company.

• Traditional: must begin RMDs by April 1 of the year following the year age 70 1/2 is attained and then by December 31 every year thereafter.
• Roth: RMDs are not required until after the owner's death.
• RMD rules also apply to inherited traditional and Roth IRAs.

• Distribution options may include low-cost annuities that are not available outside the plan.
• Employers are allowed to charge reasonable expenses to former workers, and their beneficiaries who remain in their old 401(k), even if the expenses for active workers are paid by the employer.
• Typically, qualified plans do not charge fees for trading within the account, mutual fund loads or commissions. Investment expenses may also be lower due to institutional pricing.

• Annual IRA custodial fees are waived if Ameriprise Achiever Circle Elite status is attained.¹
• Other fees that apply are disclosed in the applicable product prospectus, contract, offering or other disclosure document you receive.

• Loans may be allowed but typically for active employees only. Outstanding loan balances may need to be paid in full upon separation of service, regardless of whether or not you are taking a distribution from the plan. Taxes and penalties may apply if a loan is not repaid in full.

• Loans not allowed

• If employer securities are distributed in-kind in a lump sum distribution, ordinary income taxes (and penalty if applicable) apply to the cost basis in the year of distribution, but tax on the NUA (amount appreciated while held in the plan) is deferred until the shares are sold. Tax on NUA is determined using the long-term capital gains rate, which is lower than income tax for most individuals.

• NUA tax treatment is not available on distributions from IRAs.
• Employer securities rolled to an IRA are no longer eligible for NUA tax treatment.
• A partial distribution from your employer's plan (including a direct rollover to an IRA) may eliminate your ability to receive NUA tax treatment on employer securities left in your former employer's retirement plan. 

Note: Subchapter S stock cannot be rolled to an Ameriprise IRA.

• Plan assets cannot be attached by creditors or be liquidated in bankruptcy.

• Qualified plan assets retain unlimited federal bankruptcy protection when rolled to an IRA.⁵ Outside of bankruptcy, creditor protection is determined by state laws.