Help
Posted 18 June 2006 - 10:32 AM
I have a 403b tax deferred annuity that was self directed, with no employer matching contribution.
I can no longer contribute to this 403b since the hospital changed over to a 401k with matching employer
contributions. Since this was self directed with no matching funds can it be rolled over to a Ira.
I'm still employed with the same hospital and under 59 1/2
thanks to anyone that replies. JC
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403b Rollover To Ira Need Help !
#2
Posted 18 June 2006 - 11:19 AM
When your employer moved from a 403(b) to a 401(k) provisions should have been made for the 403(b) money. I would ask them about this. Typically you can only move money into a rollover IRA when you separate from service, but clearly your situation is different. I would suspect you would certainly be able to move this money into the new 401(k) plan, though that may not be what you want to do. Others on the board should be able to provide more precise rules on a plan change over, but I would begin by contacting your employer.
Dan Otter
Dan Otter
#3 Guest_Sierra_*
Posted 19 June 2006 - 04:00 PM
QUOTE(Admin @ Jun 18 2006, 12:19 PM) 
When your employer moved from a 403(b) to a 401(k) provisions should have been made for the 403(b) money. I would ask them about this. Typically you can only move money into a rollover IRA when you separate from service, but clearly your situation is different. I would suspect you would certainly be able to move this money into the new 401(k) plan, though that may not be what you want to do. Others on the board should be able to provide more precise rules on a plan change over, but I would begin by contacting your employer.
Dan Otter
Notwithstanding the fact that the same employer is involved you cannot move 403b money to a 401k while still employed prior to age 59-1/2. If your 403b account is with an expensive vendor I urge you to move it under Revenue Ruling 90-24 to a no-load provider. Let us know how you make out.
Joel L. Frank
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