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Greetings nurseallie:
if i have a 403b (TSA) and leave my job and work in a place where 401k and 403b are not avail, can i rollover the money to a "rollover IRA".

Yes, the money in the old employer's plan can be rolled over into what would be set up as a traditional IRA. You can do this even if the new employer does have a retirement plan.

If so, isn't there a maximum per year that you can put in an IRA.

There is currently a maximum contribution limit for IRA's of $3,000, but distributions from a qualified retirement plan transferred to a rollover IRA don't have any contribution limits.

So if i rollover a TSA worth 6000, will that be my maximum for ALL IRA contributions that year?? Will i be penalized for having 3000 in my Roth that year and 6000 in a "rollover IRA" that year?

No. And what's even better is that this money can possibly even be transfered back into another qualified retirement plan through a new employer. And since recent tax law changes, "commingling of conduit IRA money with other IRA or qualified retirement plan money is permitted, and the mixing of such monies will have no impact on the ability to transfer those IRAs to a new employer's retirement plan." -Taken from the Fools Retirement area pages.

And you may also be able to do a "Conversion" to a Roth IRA. You can check into all this a little further by following this link to the Fool's Retirement Area, see:



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