Rollover
Moving retirement funds from one account to another — like an old 401(k) to an IRA — without triggering tax.
A rollover transfers money from one retirement account to another while preserving its tax-advantaged status. The most common case is rolling an old employer 401(k) into an IRA after leaving a job, which consolidates accounts and usually opens up far more investment choices at lower cost.
Done as a direct (trustee-to-trustee) rollover, there's no tax and no withholding. An indirect rollover, where the money passes through your hands, must be redeposited within 60 days or it becomes a taxable distribution — so the direct route is almost always safer. Rolling pre-tax money to a Roth is a different transaction (a conversion) and is taxable.
This definition is general information to help you understand a term, not financial, tax, or legal advice. Figures that change year to year (limits, thresholds, rates) should be confirmed against current official sources. For guidance on your situation, a licensed fee-only fiduciary is the right next step.