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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: of 75383  
Subject: Re: Need 403(b) advice! Date: 2/13/1999 12:01 PM
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Greetings, Alancornett, and welcome. You wrote:

<<Here's my situation. Last year I had my financial advisor set up a 403(b) for the church where I am a minister. Unlike with larger institutions, the 403(b) is "mine" in the sense that the church treasurer has no problem doing with it what I want. Anyway, in the process of becoming Foolish, I discovered that I'm in deferred load Putnam funds (5%) with 2.5%-3.5% total operating fees! So I want to get my 403(b) money out of there and into probably index funds. My financial advisor will be no help (you may look at his response to me about that in the Mutual Funds board under "A Message From My Financial Advisor"--it's worth a look for the shock value of it!) so I'm going to have to do this myself (which is good & Foolish, of course). When I do this it will end my relationship with him but that's okay.

How easy is it to transfer a 403(b) and where do you good folks recommend I look?>>


I read the self-serving piece penned by your advisor. It sounds very Wise to me indeed. You can move that 403b plan to another 403b provider quite easily. Simply transfer it to what's called a 403b(7) account with a fund family that accepts such accounts. I know that both Vanguard and Fidelity do, so all you have to do is contact them and ask for the transfer forms to do so. As long as your church has no problem, you can also direct future contributions to that account as well.

Regards…..Pixy
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