Skip to main content
No. of Recommendations: 0
There is one proviso, though, that lets you transfer the money to another SIMPLE provider or designated financial institution (DFI) within that two-year period. The transfer must be between trustees, but if requested by you within a "reasonable time," the funds in your account with the current DFI must be transferred without fee or cost.

Pixy,

To clarify the “without fee or cost” part, does this mean that only deferrals and employer matches can be transferred without fee or cost if requested soon after deposit, or must ANY transfers out of a SIMPLE be free of charge? In other words, let's say it's more than two years after I start participation—can the entire balance, for instance, transfer to a Traditional IRA without fee or cost, or will I still be hit with the normal broker transfer fees?

Thanks for the double-check,
nbg
Print the post  

Announcements

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.