Jump to content
NJ Educator

Can I Move My 457B Twice In One Year Without Penalty?

Recommended Posts

I need to move my 457b money out of the insurance company I am with in the next 2 weeks.....long story......

 

I am in the process of trying to get a low cost vendor on the approved list for my district....but currently, my best deal is to move the money to a 457b custodial account with Lincoln (I will be paying about 1.1% total because I have to use an adviser).

 

If I get a new provider on my district's list in the next few months, does anyone know if I would run into any kind of fees or penalties for moving to a second new provider in 3 - 6 months time?

 

I am planning on putting my money in a Vanguard Target Retirement Fund (through Lincoln.....)

 

Any information would be helpful!

Share this post


Link to post
Share on other sites
Guest Joel L Frank

I need to move my 457b money out of the insurance company I am with in the next 2 weeks.....long story......

 

I am in the process of trying to get a low cost vendor on the approved list for my district....but currently, my best deal is to move the money to a 457b custodial account with Lincoln (I will be paying about 1.1% total because I have to use an adviser).

 

If I get a new provider on my district's list in the next few months, does anyone know if I would run into any kind of fees or penalties for moving to a second new provider in 3 - 6 months time?

 

I am planning on putting my money in a Vanguard Target Retirement Fund (through Lincoln.....)

 

Any information would be helpful!

 

 

"Lincoln...." Please furnish a more complete name.

Share this post


Link to post
Share on other sites
Guest Joel L Frank

I need to move my 457b money out of the insurance company I am with in the next 2 weeks.....long story......

 

I am in the process of trying to get a low cost vendor on the approved list for my district....but currently, my best deal is to move the money to a 457b custodial account with Lincoln (I will be paying about 1.1% total because I have to use an adviser).

 

If I get a new provider on my district's list in the next few months, does anyone know if I would run into any kind of fees or penalties for moving to a second new provider in 3 - 6 months time?

 

I am planning on putting my money in a Vanguard Target Retirement Fund (through Lincoln.....)

 

Any information would be helpful!

 

 

So you're going to rollover your 457b money from an insurance company to Lincoln Investment Planning. Inasmuch as Lincoln will be selling you the investment you should find out from them what their exit fees/commissions are. Please share their answer with us.

Share this post


Link to post
Share on other sites
Guest Joel L Frank

No exit fees of any kind....

 

So now you know that your rollover from Lincoln to a low cost option in 3-6 months will cost you nothing as far as exiting. You say Lincoln will be charging you 1.1 percent. Can you break that down for us?

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

×
×
  • Create New...