Message Font: Serif | Sans-Serif
No. of Recommendations: 0
[[My wife is a schoolteacher and has some money in a mutual fund under the 403(b)program. She
has since opened a new contract with another mutual fund and no longer contributes to the original
fund. My broker told me that my wife can open an IRA Rollover account and move those original
funds into it so that she can use them to purchase stock. Is he correct?]]

Check with TMF Pixy in the Retirement Investing folder. Pixy should have a much better answer for you if you provde all of the facts.

It is my understanding that simply because she "switched" investment vehicles in her 403b, she is still not allowed to remove the original funds into an IRA rollover...since she is still working for her employer.

But check with TMF Pixy (who is our resident retirement plan guru) for a more specific response.

TMF Taxes
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
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.