Any time you’re moving money, you’ll want to make sure you’re dealing with a reputable IRA provider – and this can be especially true when it comes to 403b rollovers. Rollover to a 403b retirement plan is one that’s only offered to specific groups of people, including self-employed ministers, non-profit employers, and employees in public education organizations. Because of this, you may need to address certain tax issues before setting up a separate 403b IRA rollover account. To ensure that everything proceeds correctly, you’ll want to discuss all of your rollover options with your IRA providers you’re considering to see what they recommend. (more…)
Posts Tagged ‘403b Rollover to IRA’
403b IRA Rollover Rules – What You Need to Know
Posted by bobrichards on March 31st, 2010
There are a number of different types of IRAs or Individual Retirement Accounts available today, and you can tell a lot about where a person works by the type of IRA they have. For example, if you have a 403b IRA, then it’s likely you work for an educational institution, hospital or a nonprofit organization (or have in the past), and have taken advantage of your employer’s plan to save for your retirement using pre-tax dollars.
But if you’re considering a 403b IRA rollover, chances are you’ve had a change in circumstances which, for most people, translates to a change of employment. The first IRA rollover rule you need to know is that there’s no rule that says you must rollover your money when you change employers. It is perfectly acceptable to have more than one retirement savings vehicle, and there’s no reason you must rollover your funds if your current 403b IRA is meeting your short and long term needs. (more…)
Why Do a 403b IRA Rollover?
Posted by bobrichards on March 22nd, 2010
Investing for your retirement can feel overwhelming. After all – who wants to sit down and think about how many hundreds of thousands of dollars you’ll need to accumulate in order to retire in comfort and security? Unfortunately – whether or not you want to think about it – retirement planning is a necessary evil, but it’s one that you need to face. And it turns out, it doesn’t have to be as difficult as you may have imagined.
Regardless of how long you’ve been in the workplace, you’ve probably got at least one old 401k or 403b account that’s still invested in a former employer’s retirement plan. Although these funds are still earning interest and growing in these accounts, they could be doing a lot more for you. Let’s look at how a 403b IRA rollover can simplify and streamline your retirement investing process. (more…)
What are the Benefits of a 403b IRA Rollover?
Posted by bobrichards on March 12th, 2010
If you’re employed by a public education organization, non-profit, cooperative hospital service or religious institution, you may be eligible to participate in a 403b retirement plan – the non-profit sector’s equivalent to the traditional 401k account. Like a 401k, 403b accounts offer tax-deferred growth on funds invested for your retirement and, depending on your employer, may also offer matched funds that help your account grow even faster. (more…)
