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Leftover money from 403B
Posted on 3/19/14 at 7:30 pm
Posted on 3/19/14 at 7:30 pm
I have about 8K left over in an old 403B from a previous employer, and I feel like no one is watching the account anymore. My question, is it best to transfer it to my current 401K or roll over into IRA . Are there any other plausible options? I know if I withdrew it completely, I would get hit hard in taxes. Also what is the process to completing this type of transaction? Would I go through the broker that has the 403B or the 401k?
2
Posted on 3/19/14 at 7:37 pm to tigerfan25
Are you staying in education or a non-profit job?
If so you can roll it into a new 403b. Otherwise roll it into an IRA.
If so you can roll it into a new 403b. Otherwise roll it into an IRA.
Posted on 3/19/14 at 7:50 pm to LSU9102
No it's in the medical field, but yes staying in the medical field.
Posted on 3/20/14 at 7:54 am to tigerfan25
An IRA gives you more options. If you roll it into a 401k you'll only have the limited menu of investments in the new 401k plan.
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