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Marcel56

403(b) Plan Liquidation Advice Needed

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I have a prospective client that wants to liquidate their funds set up in old individual TSA accounts from one 403(b) vendor and roll these assets into another 403(b) vendor. No momey has gone into the first vendor in several years and all new money is being sent to the second vendor. Since they only have one plan, this is not a termination and thus there is not a distribuable event. What options can I give this client other than rolling the first vendor's assets into an IRA?

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I have a prospective client that wants to liquidate their funds set up in old individual TSA accounts from one 403(b) vendor and roll these assets into another 403(b) vendor. No momey has gone into the first vendor in several years and all new money is being sent to the second vendor. Since they only have one plan, this is not a termination and thus there is not a distribuable event. What options can I give this client other than rolling the first vendor's assets into an IRA?

 

 

Is this a joke ??

 

Just transfer the money from the old 403 to the new one !!

 

Good Luck !!

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Guest Sierra

 

I have a prospective client that wants to liquidate their funds set up in old individual TSA accounts from one 403(b) vendor and roll these assets into another 403(b) vendor. No momey has gone into the first vendor in several years and all new money is being sent to the second vendor. Since they only have one plan, this is not a termination and thus there is not a distribuable event. What options can I give this client other than rolling the first vendor's assets into an IRA?

 

 

Is this a joke ??

 

Just transfer the money from the old 403 to the new one !!

 

Good Luck !!

 

 

Please ignore Guru!

 

How old is your client? Is the old account derived from employment with the current employer?

 

Joel

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I have a prospective client that wants to liquidate their funds set up in old individual TSA accounts from one 403(b) vendor and roll these assets into another 403(b) vendor. No momey has gone into the first vendor in several years and all new money is being sent to the second vendor. Since they only have one plan, this is not a termination and thus there is not a distribuable event. What options can I give this client other than rolling the first vendor's assets into an IRA?

 

Is this a joke ??

 

Just transfer the money from the old 403 to the new one !!

 

Good Luck !!

 

Please ignore Guru!

 

How old is your client? Is the old account derived from employment with the current employer?

 

Joel

 

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Marcel writes:

I have a prospective client that wants to...

 

It sounds like Marcel is the "professional" here and we should be asking him/her this question because, after all, that is the business he/she is in.

 

Marcel, Why don't you have the client call the new vendor and ask how to do the rollover. They will do it for the client since they would want to manage more money. You don't need to do anything!

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