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Author: TryinSir Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75859  
Subject: 403(b) "rollover" Date: 8/13/1998 11:20 PM
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I'm currently employed with a not-for-profit and am considering employment with a for profit. I have a 403b with my current job. What would my options be? Can I continue contributing if I leave a 403b eligible company? Can I roll it to something equivalent? Others?

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: 5011 of 75859
Subject: Re: 403(b) "rollover" Date: 8/14/1998 9:05 AM
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Greetings, TryinSir, and welcome. You asked:

I'm currently employed with a not-for-profit and am considering employment with a for profit. I have a 403b with my current job. What would my options be? Can I continue contributing if I leave a 403b eligible company? Can I roll it to something equivalent? Others?

On termination of your employment, you may leave your 403b account in your current plan; however, you may not continue tax-deferred contributions based on your new employment income. Alternatively, you may transfer those funds to a traditional IRA of your choice. On transfer, you may preserve your eligibility to later transfer those monies to a new employer's plan that accepts such transfers simply by ensuring you add no other money to the account. If you wish to contribute to the IRA, you may. On doing so, though, the account loses its eligibility for a later transfer to a new employer's plan.

Regards…..Pixy



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