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Author: Mark0Young Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75523  
Subject: Re: Moving a TSA 501(c)? Date: 9/18/2003 8:10 PM
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Is your DH no longer working for that non-profit church camp?

Is the TSA indeed a 403(b) or a 403(b)(7)? (Some people use TSA for things other than 403(b) plans, even though the IRS literature specifically references TSA as a name for a 403(b) plan.) The 501(c) sounds like the tax code designation for a non-profit organization, not the retirement account type.

Assuming yes (no longer employed by the church camp) and yes (it is indeed a 403(b) or 403(b)(7)), your DH should be able to do a rollover of that TSA to a "rollover IRA" at a custodian of his chosing, such as a discount broker (if he wants to invest in individual stocks) or a mutual fund family (if he would rather invest in mutual funds offered by that fund family, such as with Vanguard for the Vanguard Total Stock Market Fund, or TIAA-CREF for their Equity Index Fund). Generally, one would start with the custodian one wants to roll the money to, and have the (new) custodian request a "custodian to custodian" transfer to conduct the rollover into the "rollover IRA" (a Traditional IRA funded exclusively with funds from a qualified account). Note: even though the rollover would be without any tax consequences, it is possible that the existing TSA may charge a "surrender fee" for moving the money out of that plan.

If this is something else, not a 403(b) or a 403(b)(7), it would help to know exactly what it is because the rules for transferring the assets depend on exactly what the account type is.
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