Skip to main content
No. of Recommendations: 1
In general, if this is a plan your employer lets you set up yourself with the provider, then you should be able to use a mutual fund family that accepts 403b(7) accounts.


It is not necessary to have your employer's approval/cooperation/permission or even to talk to your employer at all to open a 403b(7) account. I just did this. It is something you can do as an individual dealing directly with the mutual fund company, transferring money in from an existing 403b account.

What is necessary to have your employer's approval for is to have your payroll deduction go directly to your 403b(7) account. The employer may or may not elect to do this. If they don't, as in my case, your payroll deduction must go directly to a provider that your employer uses. However, once it is there, you can then transfer it to your 403b(7) without involving your employer. (You should check your plan first to see if there are any surrender charges involved in making the transfer.)

P.S. I don't know where to find the exact language of the paragraph either, but the website has lots of 403b info and might have it, and I found the Vanguard rep I spoke to to be quite knowledgeable and helpful.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.