Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
403b Changes
Old 09-29-2008, 10:50 AM   #1
Recycles dryer sheets
 
Join Date: Jul 2007
Posts: 116
403b Changes

My wife is a teacher, she recently received a raise so we were going to increase her 403b contributions. Well now with the new 403b rules the district is no longer going to use Vanguard. The only company they will use is Lincoln Financial. The districts response was this:

If you like Vanguard, Lincoln Financial has a platform to assist you in ultimately using Vanguard funds. Your actual contribution will be made to Lincoln.

I don't even feel like contacing Lincoln Financial and going through the sales pitch. Plus why pay them a fee to invest in another low fee fund? We haven't been maxing our Roth's so it looks like that is the route we will take. It was just nice using the 403b because the money was taken directly out of the check.

The question is what to do with the 403b already at Vanguard. Just let it sit until retirement? I don't think there is much else we can do with it.
__________________

__________________
Gworker is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 09-29-2008, 10:53 AM   #2
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,612
Is the existing 403b money in Vanguard remaining with Vanguard (i.e. you're not "forced" by your employer's plan to move it to the new custodian)? Check with your HR folks to see if that portion can be rolled into a Vanguard IRA.
__________________

__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 09-29-2008, 02:31 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
youbet's Avatar
 
Join Date: Mar 2005
Location: Chicago
Posts: 9,965
Quote:
Originally Posted by Gworker View Post
The question is what to do with the 403b already at Vanguard. Just let it sit until retirement? I don't think there is much else we can do with it.
Move it to a rollover IRA at Vanguard.
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
youbet is offline   Reply With Quote
Old 09-29-2008, 05:49 PM   #4
Recycles dryer sheets
 
Join Date: Jul 2007
Posts: 116
I've been researching the rules for a 403(b). It looks like we can't do a rollover unless she quits, retires, or at 59 1/2. We'll just leave it there until that time.
__________________
Gworker is offline   Reply With Quote
Old 09-29-2008, 06:00 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
youbet's Avatar
 
Join Date: Mar 2005
Location: Chicago
Posts: 9,965
Quote:
Originally Posted by Gworker View Post
I've been researching the rules for a 403(b). It looks like we can't do a rollover unless she quits, retires, or at 59 1/2. We'll just leave it there until that time.
Ask the Vngd 403b folks. I'm betting you can.
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
youbet is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
DW 403B Plan davemartin88 FIRE and Money 5 09-12-2008 06:17 PM
Need Advice: Roth 403b vs. traditional 403b SingleMomDreamer Young Dreamers 0 01-10-2008 08:57 AM
New 403b regulations nun FIRE and Money 2 02-21-2007 01:23 PM
403b Limits Rich_by_the_Bay FIRE and Money 4 12-17-2006 11:50 AM
Dump the 403b? cute fuzzy bunny FIRE and Money 7 03-01-2005 06:42 PM

 

 
All times are GMT -6. The time now is 08:58 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.