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vasily

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  1. Joel, in fact there is very low cost participating my wife's school's plan. My wife said it's one of the lowest in the industry, much better than what I'm getting! vasily
  2. Hi, Thank you for the reply. Does distribution restrictions=income options=cash rule? If so my wife said she did get the information from the rep when she was rolling over last year. This is what she got (I'm not very clear what it all means): if she's not eligible for retiree health care yet, up to 100% can be cashed, but the former employer (school) must approve for 100%. Or, if she's reached retirement age, up to 70% can be cashed. If she later works for another institution participating the same company, and terminates employment (in the latter institution), then that (latter) institution's rule may apply to the funds from aforementioned earlier employment. They didn't mention whether the funds are in 403b or rolled over to IRA. Vasily
  3. Hi, Thanks for the explanation. I just realized I forgot to mention to you that the employer contributed a match (small percentage) for every employee's contribution to his/her account, so most likely this is the reason they had this rule, and they seem to be entitled for part of control of the account, at least when it's still in 403b. Given this fact, do you still think they should have no control relating to transfer of the rollover IRA (part of which had been contributed by employer)? Looking forward for reading your reply. Thanks a lot for spending the time to answer my questions! Vasily
  4. Hi, Thank you very much for your timely reply! Of course your answer is just what I wanted to hear (and what sounds the reasonable thing)! But if that is the case, then it really makes the employer's rule virtually useless, doesn't it? It only adds one extra step for the transferring out: first roll over within. vasily
  5. Dear fellow posters, First I know that I should have my wife ask the company directly, but before that's necessary I found this forum and would like to get some input here, any reply will be helpful. Here goes: Last year my wife left her school job. She then rolled over her 403b to IRA. Her school's rule was that even after she left she couldn't transfer the asset out of the company which has the retirement accounts for the school. As a result, her rollover IRA stays where the 403b had been. Our question is: Since now this has become an IRA account, is it still subject to the former employer's rule? In other words, can she now transfer the IRA out to another inverstment company? Looking forward to response. Sincerely, Vasily
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