Ameriprise SRA account is???

Submitted by Tom Brattain on Tue, 2008-01-29 18:43

I have a new client that has an Ameriprise “SRA” account. The client has no idea what it is, or where/when he got it. The obvious would be a Salary Reduction Agreement (TSA/403(b)), but I have never seen this.

Does anybody know what this is or if it can be rolled to an IRA? I will, naturally, have to confirm that he is no longer working for whoever the sponsoring organization is/was, if it is a TSA or TSA-like vehicle.

Any help will be appreciated.



Submitted by Denise Appleby on Tue, 2008-01-29 20:08

Could be Supplemental Retirement Account. Check the website of the plan sponsor to see what they classify as an SRA. SRA balances are usually [url=http://www.retirementdictionary.com/Eligible-rollover-distribution2.htm%5D… eligible[/url]

Submitted by Steve Ross on Sat, 2023-02-18 21:08

Hi Tom, I have run into the same situation with one of my new clients.  I have gone to the Ameriprise website but am not finding any answers.  Were you able to obtain information about the Ameriprise SRA?  Anything you can share would be appreciated. 

Submitted by Jeff Kragen on Mon, 2023-05-01 22:32

srossclu:I’m also running into the same issue with a client who has a similar account at Ameriprise.  Were you able to learn anything about this account type? Thanks,Jeff 

Submitted by [email protected] on Thu, 2023-05-04 14:52

Could simply be a – Single Registered Account

Submitted by Jeff Kragen on Fri, 2023-05-05 16:55

Thanks…I believe it stands for “Salary Reduction Agreement” but that doesn’t tell me what type of retirement account it is.

Submitted by David Carrell on Thu, 2023-05-11 23:59

  • Original post was in 2008, so I am not expecting any contribution to the conversation from there. It was re-animated in Feb of this year with no firm confirmation. Has someone tried just calling Ameriprise and let them explain? This is a wonderful forum to get answers but sometimes just going directly to the source is best/fastest/most accurate.

 

  • Anyway…from the Ameriprise web site a site search for “SRA” returns about 7 documents. One of these is “Your guide to Estate Settlements” which says about SRA’s…”These types of accounts all include a beneficiary provision and upon the death of the sole owner interest in the account is transferred to the named beneficiary(s) according to the instructions provided by the sole account owner.”
  • Another document the search turned up was a RMD FAQ. From this document, “SIMPLE IRA plans will display the SRA group number next to the plan name.”
  • There were some other documents that make it look like an SRA is some kind of IRA or similarl
  • From these documents I deduce a Ameriprise SRA is a Simple IRA. But I certainly could be wrong so verify with Ameriprise.

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