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Though I've discovered that many/all online discount brokers will not/cannot manage 403B accounts, I'd like to know if any discount/full-service brokerage firms manage 403B accounts?
Since my employer-sponsored plan offers few choices, I'd like to roll the existing money, if possible, and continue to fund the account as per 403B guidelines, as I continue to work for the same employer.
Thank you kindly for helping me.
Mike
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Recommendations: 0
Mike -
403b accounts are limited, by law, to annuities & mutual funds! You may select a variable annuity or a 403b(7) custodial account with a mutual fund family for your retirement plan.
HOWEVER, your employer-sponsored plan may have rules that do not permit you to pick your own vendor... Most likely the employer has picked a vendor to provide retirement savings plans for the employees. Unless you leave the job you'll need to participate in the plan to save via payroll deduction (and get match money).
You MAY be able to make "partial" withdrawals/transfers via Rev. Ruling 90-24, if permitted by your employers plan document. Seek help from a qualified financial advisor on this matter...
Good luck, PP
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