I know you can rollover your 403b account into a traditional IRA without penalty if you change jobs but can you do a rollover if you are not changing jobs?I don't think any plans permit a rollover to an IRA while you're still with the employer. However, if your account does not contain any employer-contributed funds, one thing you can do without changing jobs is to open a 403b7 account with a mutual fund company of your choice (as long as the mutual fund company does 403b7 accounts--not all of them do). 403b7's can only be opened with mutual fund companies.You would do this by contacting the mutual fund company, asking if they do 403b7 accounts, and if they do they will send you the paperwork to transfer funds from your existing account. This may take some persistence--not many people know about this, including some customer service people at mutual fund companies. A co-worker of mine had to go through a few layers of people at Vanguard before he got someone who knew about it. I have done it myself with Citizens. Your employer does not ever have to know or be involved.Your payroll contributions must continue to go to your employer's provider, they cannot go directly to the 403b7 unless your employer sets up an agreement with the fund company. But you may transfer to your 403b7 periodically.One thing to check before doing this is whether your money is subject to any "surrender charge" before transferring it out--some are, some aren't, depending on the plan and provider. In some cases it depends how long your money has been with your provider.
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