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Author: Hidude Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75381  
Subject: 403B Date: 10/23/1998 11:55 PM
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My father has a 403B and I was wondering if I could transfer this money to an IRA account through a discount broker, like Waterhouse? The money is invested in a wide variety of mutual funds right now and he is wanting to move them to a place where they will make a better return. If anyone can help me out, I would appreciate it very much. Thanks.
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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 6256 of 75381
Subject: Re: 403B Date: 10/24/1998 9:46 AM
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Greetings, Hidude, and welcome. You asked:

<<My father has a 403B and I was wondering if I could transfer this money to an IRA account through a discount broker, like Waterhouse? The money is invested in a wide variety of mutual funds right now and he is wanting to move them to a place where they will make a better return. If anyone can help me out, I would appreciate it very much. Thanks.>>

You can't transfer the money because it's not yours to do so. :-) However, your father might be able to provided he is no longer an employee of the entity that sponsors the plan. If he still participates, though, the best he can do is transfer the money to something called a 403b(7) account with a mutual fund. That's because 403b money may be invested in annuities or mutual funds only, and it can not be invested in individual securities like stocks. If he's retired or has left the job, though, he can have the money transferred to a self-directed IRA with a broker of his choice. Then and only then may he use the money to trade stocks.

Regards...Pixy

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Author: peppermintpatty Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 6293 of 75381
Subject: Re: 403B Date: 10/26/1998 11:46 AM
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Hidude: Yes, you can transfer 403b funds to an IRA. It's easiest if the account holder has terminated from the job that provided the 403b because you could more the entire sum. Call the 403b provider for more complete instruction. Good luck. PP

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