No. of Recommendations: 0
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.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.