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Message
457b
Posted on 12/22/09 at 4:35 pm
Posted on 12/22/09 at 4:35 pm
I worked for a non-profit (hospital) and was able to put money away in a 457b and 403b. I have since left that job and no longer work for a non-profit. I was able to move the money in the 403b, but not the 457b. I can no longer contribute to it. Should I cash out or let it sit? The current value is around 12k.
1
Posted on 12/22/09 at 4:39 pm to Mempheaus tiger
If you are hapy with the investment selection/performance, then leave it be...
If not, you can "roll it over" to an IRA, which should give you a broader selection of investment opportunities.
I've done that with several 401K accounts....
If not, you can "roll it over" to an IRA, which should give you a broader selection of investment opportunities.
I've done that with several 401K accounts....
Posted on 12/22/09 at 4:45 pm to lsu_tiger_az
I tried to roll it over to an IRA but wasn't allowed. The problem is that I have moved all my other accounts to a different advisor and this one account is stuck with Lincoln.
Posted on 12/22/09 at 5:04 pm to Mempheaus tiger
quote:
I tried to roll it over to an IRA but wasn't allowed.
Was there a time restriction? Or some other requirement?
Posted on 12/22/09 at 5:11 pm to lsu_tiger_az
457(b) plans sponsored by governmental units are eligible for rollover. 457(b) plans sponsored by other tax-exempt entities are not eligible for rollovers. The hospital that the OP worked for must have been a non-governmental tax-exempt organization.
I don't know the reasons for the differences. I just know they exist.
I don't know the reasons for the differences. I just know they exist.
Posted on 12/22/09 at 5:14 pm to Poodlebrain
quote:
I don't know the reasons for the differences. I just know they exist.
Maybe a certain Nebraska, or Louisiana Senator could get him an exemption from that....
Posted on 12/22/09 at 6:51 pm to lsu_tiger_az
Hahaha...thanks.
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