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PurpleReign

Should I Rollover my 457b?

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I have a 457b with ICMA-RC from a former employer and I’m wondering if I should rollover the funds to Vanguard or Fidelity.  If I rollover the funds, I would lose the opportunity to withdraw the funds penalty free before the age of 59 1/2; however, I don’t think this will be a problem.  Are there other factors I should consider?

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How close to 59.5 are you? I would view the no penalty for early withdrawal as a form of insurance, hopefully not used, but you never know. Are you employed with a current 457b that you could roll the old one into? A 457b account may have stronger creditor protection than an IRA, I don't know. Are you employed and have a 403b? You can make penalty-free distributions from your employer's 403b at age 55. I made use of this when I was unexpectedly offered retirement at age 56.

If the admin fee and expense ratios of the ICMA-RC 457b are high, that would probably cause me to roll it over. 

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