I've recently switched jobs and need to rollover money from an employer retirement account (they contributed 5% of my salary a year to this account and I became fully vested after three years). I also have a 403(b) with them too. My question is should I rollover my retirement account into an IRA or rollover into my new company's 401k, also can I rollover money from the 403(b) into my new company's 401k? My new company says maybe my old company says no you can't rollover a 403 (b) into a 401k. Any advice would be appreciated.
My question is should I rollover my retirement account into an IRA or rollover into my new company's 401kIt depends. Generally one has more investment choices in an IRA by picking an appropriate "rollover IRA" custodian (e.g., a mutual fund family, a discount broker, etc.).On the other hand, if the new 401(k) provider has very good investment choices, or if you plan on making use of some feature of your new 401(k) plan (such as a loan), it may make more sense to roll the money over to the new 401(k) plan, if allowed.also can I rollover money from the 403(b) into my new company's 401k?Not today. Starting January 1, 2002, the federal law will allow 403(b) money to be rolled into a new employer's 401(k) plan. The 401(k) plan doesn't have to allow money to be rolled into it.
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