403b Transfer To An Ira
Posted 18 September 2005 - 08:53 AM
Posted 18 September 2005 - 12:30 PM
I transferred my 403b funds into an IRA when I turned 59 1/2.
The TC rep may had made a mistake or misunderstood the situation.
My question for you is this: Why do you want to transfer your 403b funds to TC? I use TC as the vendor that gets my new 403b funds, but 95% of my old funds are with Vanguard. You might consider sending your funds to Vanguard instead. Best Wishes.
Posted 18 September 2005 - 12:45 PM
If you feel you do not meet one of the qualifying events to transfer the 403A account to an IRA, (death, disability or separation from service); you may wish to contact TIAA CREFF and re-ask the question. You also may wish to contact the annuity company you purchased your 403B account from, or the agent, and pose the question to them. I am assuming you have an annuity because you mention your account is free of surrender charges, which is usually a scenario that involves annuities.
The previous poster asks a good question on "why", you may wish to consider what you wish to accomplish with this strategy. I hope this helps.
Posted 18 September 2005 - 04:38 PM
JMacDonald: I want to transfer to TC because I did a transfer to Vanguard (very happy with them) some years ago, and am thinking it's a good idea to not have all funds with the same company.
Herb: I will be checking with TC, but it looks like it won't work since I haven't yet had a qualifying event.
Posted 18 September 2005 - 09:32 PM
Possibly you can seek out other vendors that appeal to you, and see if they are able to do what you want.
Posted 16 October 2005 - 10:01 AM
Posted 17 October 2005 - 11:39 AM
Posted 17 October 2005 - 09:18 PM
In my experience and talking with others, most of the time transfers (that is, trustee to trustee, non taxable event in a non ERISA plan) can be done. Usually its people who want to get out of a high cost annuity into a lower cost mutual fund. The stumbling block is the surrender fee that we have to eat, not the employer. Most of the time, the employers don't even know it, nor do they care.
No, there is no master list that shows this.