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Transfer providers for a 403(b) @ current job?

Posted: Thu Jun 15, 2017 2:35 pm
by C4NT
When I first started my current job I rolled over a small retirement account from a post-doc position I just finished into a 403(b) account. This was before I started learning about investments. I have not contributed any additional funds to that account and have since started funding a 403(b) account with Fidelity (because it had much better options) and a Roth IRA with Vanguard.

To tidy things up a bit I would like to get rid of that original 403(b) account and transfer that money somewhere. Can I transfer it to either my 403(b) w/Fidelity or a traditional IRA at Vanguard even though I am still working for my employer? I work for a state college if that makes any difference.

Thanks in advance for your help.

Re: Transfer providers for a 403(b) @ current job?

Posted: Thu Jun 15, 2017 3:01 pm
by PFInterest
if your current 403b has good options and accepts incoming rollovers, then yes, you can move the other 403b into it.

Re: Transfer providers for a 403(b) @ current job?

Posted: Thu Jun 15, 2017 8:54 pm
by C4NT
PFInterest wrote:if your current 403b has good options and accepts incoming rollovers, then yes, you can move the other 403b into it.
So, it only depends on whether my new provider (Fidelity) accepts rollovers?

I guess I'll call​ them on Monday.

Re: Transfer providers for a 403(b) @ current job?

Posted: Thu Jun 15, 2017 9:54 pm
by CyclingDuo
C4NT wrote:
PFInterest wrote:if your current 403b has good options and accepts incoming rollovers, then yes, you can move the other 403b into it.
So, it only depends on whether my new provider (Fidelity) accepts rollovers?

I guess I'll call​ them on Monday.
You generally have four options:

Leave the assets where they are. You can keep your account in your former employer's plan as long as the balance stays above $5,000.
Roll over the assets to a traditional or Roth IRA.
Transfer the assets to your new employer's plan, if allowed.
Cash out or withdraw the assets.


In your case, since you already have another 403b at Fidelity, it's most likely a simple case of paperwork....

https://nb.fidelity.com/bin-public/070_ ... r_Form.pdf

https://www.fidelity.com/go/401k-rollov ... lsrc=aw.ds