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403b to 401a or 457b or tIRA ?
Old 12-23-2016, 04:33 PM   #1
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403b to 401a or 457b or tIRA ?

Friend worked a few years at hospital and contributed to 403b. Then changed job to another hospital and now contributes to both a 401a and 457b.

He would like to close the former employer's 403b account and "roll over to something". All the accounts are at Fidelity - so there are good, low fee, investment options for all accounts.

Questions please:
  • The 403b is a before tax account (I think) - so cannot be rolled over to Roth ?
  • Can 403b be rolled over to either 401a or 457b ?
  • If 403b is rolled over to traditional IRA, should be be in a segregated account ? Or can it be commingled with with other tIRA funds ?
  • Any reasons to roll-over to one account or another ?

Thanks !
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Old 12-23-2016, 09:51 PM   #2
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Quote:
Originally Posted by Delawaredave5 View Post
Friend worked a few years at hospital and contributed to 403b. Then changed job to another hospital and now contributes to both a 401a and 457b.

He would like to close the former employer's 403b account and "roll over to something". All the accounts are at Fidelity - so there are good, low fee, investment options for all accounts.

Questions please:
  • The 403b is a before tax account (I think) - so cannot be rolled over to Roth ?
  • Can 403b be rolled over to either 401a or 457b ?
  • If 403b is rolled over to traditional IRA, should be be in a segregated account ? Or can it be commingled with with other tIRA funds ?
  • Any reasons to roll-over to one account or another ?

Thanks !
Yes you can now roll over from 403b, 401k etc etc directly to a ROTH, but you have to pay the tax.

Many 401a plans will accept money from 403b etc. Ask the administrator.

You can roll over a 403b etc to a 457b but must keep the money in separate accounts as the withdrawal rules are different for 457b and 403b money.

403b money can be rolled over to an existing IRA

Rolling over to an IRA give you full choice of your administrator and funds. FYI the liberal 457b withdrawal rules (ie withdrawal available with no penalty after separation from service even before age 59.5) give it an advantage over other retirement funds.
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