can I roll over 403b funds to open an IRA

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Subject Author Date can I roll over 403b funds to open an IRA psychprof32@sbcglobal.net 04-06-2007  Re: can I roll over 403b funds to open an IRA Paul Thomas, CP... 04-06-2007  Re: can I roll over 403b funds to open an IRA default 04-06-2007
Posted by psychprof32@sbcglobal.net on April 6, 2007, 9:25 am I am not sure I understood the rules correctly, but I am wondering if I can roll over funds from a formerly active 403b fund to purchase an IRA. I am retired, but working part time and currently not contributing to a 403b nor do I have an IRA. I thought that I could have the fund (for example Vanguard) roll money from the dormant 403b to open with the same company an IRA. I am over 65. Posted by Paul Thomas, CPA on April 6, 2007, 9:45 am >I am not sure I understood the rules correctly, but I am wondering if > I can roll over funds from a formerly active 403b fund to purchase an > IRA. I am retired, but working part time and currently not > contributing to a 403b nor do I have an IRA. I thought that I could > have the fund (for example Vanguard) roll money from the dormant 403b > to open with the same company an IRA. I am over 65. You can if the plan the 403b is under allows for that. Most often there are some time/age limits involved, so talk to the former employer HR department or the folks at Vanguard (if they manage the plan assets, they'll know). What you want to do if you are allowed, is to transfer it to an IRA. To be safe, have it dump into a "rollover" IRA and keep those funds separate from other IRA funds that you may make in the future. If you can do this, normal IRA distribution rules apply. -- Paul Thomas, CPA paulthomascpapc@bellsouth.net Posted by default on April 6, 2007, 1:38 pm You actually have two choices. Since you say that the account is no longer active, you can roll it over into an IRA or you could roll it into a new 403B plan.Since you mention Vanguard, Vanguard will do it for you. >I am not sure I understood the rules correctly, but I am wondering if > I can roll over funds from a formerly active 403b fund to purchase an > IRA. I am retired, but working part time and currently not > contributing to a 403b nor do I have an IRA. I thought that I could > have the fund (for example Vanguard) roll money from the dormant 403b > to open with the same company an IRA. I am over 65. > Similar Threads Posted ETFs vs open ended mutual funds December 9, 2006, 6:42 am Convert 403b to Roth 403b June 29, 2008, 6:51 am open a bank account November 15, 2006, 4:11 pm Rollover from 403b to Roth IRA January 6, 2008, 11:28 am 401k, 403b Questions September 18, 2008, 11:55 am Annual rate of return on 403B January 10, 2007, 4:25 pm feedback on rolling over a 403b to IRA from Fidelity April 7, 2007, 6:37 am sovereign wealth funds vs. hedge funds June 21, 2007, 4:06 pm IRA and Roll Over IRA August 30, 2007, 4:21 pm 401K Roll over question April 6, 2007, 11:58 am