When participants of defined contribution (DC) plans leave their employer, they often have several options for their money. They can leave the money in the plan, roll the money to another DC plan or Individual Retirement Account (IRA), or withdraw the funds as cash possibly incurring taxes and penalties. This decision can be challenging, and when people decide to roll their money into an IRA, there can be a real lack of guidance and clarity on how to select an IRA provider.
To address this issue and uphold Alight’s commitment to helping people achieve better financial security, Alight introduced the Alight IRA in December 2024. The Alight IRA offers two investment options to individuals:
- A self-managed approach through Alight Financial Solutions, LLC.
- A professionally managed approach with advisory support from Alight Financial Advisors, LLC, acting as a fiduciary for investment decisions within the Alight IRA.
Both options offer a cost-effective retirement account where people can select from a wide array of investments.
The Alight IRA also offers benefits to participants in situations that vary from the primary three we addressed, such as those seeking to consolidate their retirement assets or those looking to contribute more towards their retirement after reaching contribution limits.
For clients interested in the new Alight IRA, help with deployment is available through 2025. Explore more information about our supportive retirement solutions and guidance on our defined contribution page.
Retirement Benefits
Help your people feel good about what's to come for their retirement benefits. We'll show you how.
