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Author: ryknow Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76078  
Subject: 403b Transfer Date: 10/27/2000 11:14 PM
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I have about $8,000 in a 403b annuity and want to transfer it over to something else now. What are my options with regard to an IRA or something else that would let me manage the stocks that it goes into? If that is not possible what about an index fund?

ryknow
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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: 25801 of 76078
Subject: Re: 403b Transfer Date: 10/27/2000 11:32 PM
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ryknow -

First - Have you left your employer? If you have not, your transfer options are limited - Rev.Ruling 90-24 Transfer to another 403b or 403b(7) plan might be ok.
If you have terminated with your employer you might also transfer to an IRA. Both transfers are tax-free.

However... because you have an annuity, you might incur surrender penalties from the TSA provider - read your contract! Call your representative for info...

Good luck, PP

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Author: ryknow Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 25804 of 76078
Subject: Re: 403b Transfer Date: 10/28/2000 12:06 AM
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I left the employer a few years ago. The contract has no surrender penalties if I have left the employer. I am looking for a plan that will allow me to pick the stocks rather than having to go with some unknown mutual fund. How do I go about transferring and finding a different plan?

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Author: TicTocMan Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 25807 of 76078
Subject: Re: 403b Transfer Date: 10/28/2000 3:36 AM
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<<I left the employer a few years ago. The contract has no surrender penalties if I have left the employer. I am looking for a plan that will allow me to pick the stocks rather than having to go with some unknown mutual fund. How do I go about transferring and finding a different plan? >>

Choose a (discount) broker: http://boards.fool.com/Messages.asp?bid=100146. Tell them that you want to roll your 403(b)into an IRA, they will do all the work for you. I chose TD Waterhouse because they do not charge fees for IRAs or have minimums for them. At that point, you are able to choose what stocks you want to buy.

Whether or not to convert your Roll-over to a Roth IRA is a personal decision (I decided against it, and opened a separate account and put all new IRA contributions into a Roth. I now have 2 IRAs and I have fun competing different strategies in them).

I hope this helps

TTMan

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