Rolling Over a 403b
What is a 403b?
The 403b plan is very similar to the traditional 403b in that it was set up by your employer with your earnings either before or after taxes were taken out. The main difference between the 403b and the 401k is that your employer will have been tax exempt, like a non-profit, a church or a school. Rolling over a 403b is just like the 401k, unless yours is a Roth 401k that needs to be rolled over. In this case, please contact us for information using the form to the right.
403b Rollover Rules
The 403b, as with the traditional 401k, has rules regarding rolling over the funds to other investment vehicles. The IRS allows for a direct rollover of funds into another qualified retirement plan without penalty or obligation. If you are considering rolling over a 403b, you will probably have up to 60 days to get the money transferred into the new account. Please do not wait until the last minute for these arrangements. Contact one of our 403b rollover specialists using the form above for a free 403b rollover consultation.
The Basic 403b Rollover Strategy
Typically, the best strategy for rolling over a 403b is a direct transfer of the money into another tax-exempt account like the Roth IRA using a direct rollover. This will help preserve the tax benefits associated with your 403b. If your 403b account has matured, many other variables come into play than we can discuss here, so I will remind you to consult one of our specialists in rollovers of 403b's. You can get a free consultation by simply using the form on this page or from our Free Consultations page.
The Timing of 403b Rollovers
Because of the 60 day window (mentioned above), you will be better served if you have your new account set up in advance of the time you need to rollover your savings. The direct rollover is the safest and best way to handle most rollovers. Please contact one of our 403b rollover specialists for a free rollover consultation.
Get Some Free 403b Rollover Advice
It can be expensive to get a financial strategist to help you plan the rollover of your 403b. If possible, seek guidance from a professional rollover specialist that will offer free consultations. Of course, we offer these financial needs consultations free to everyone and have many specialists in 403b rollovers ready to advise and assist you for free. Start by using the form on this page and we'll be in touch right away.