Author Topic: What to do with 403b from ex employer?  (Read 2682 times)

rodney757

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What to do with 403b from ex employer?
« on: April 19, 2012, 08:36:07 AM »
Hi,

This is my first post here, but I've read every article and constantly read the forums. Im asking this question on behalf of my mom, as I told here that I would help her out, but I don't really know much about employer sponsored retirement accounts as I've never had them available to me. She recently changed jobs. Now she is trying to figure out what to do with her 403b with her previous employer. She is 45 incase that affects her options.

What are some of her options available? Can she transfer her 403b with her previous employer into a 403b of her choice? Or does it have to transfer into another employer sponsored retirement account.

I think that she just wants to invest in mutual funds.(I am finding out for sure though) With that said, she should just transfer her account to vanguard? I use vanguard for my roth and they seem to get high remarks form the things I read. Is there any reason that she would want to move it to say fidelity or hartford? She did open an account with hartford through her new employer though.

Thanks for the help. I really appreciate the forum and the blog

James

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Re: What to do with 403b from ex employer?
« Reply #1 on: April 19, 2012, 10:00:05 AM »
I moved my old 403B into a roll-over IRA at Vanguard the last time I changed employment and have been very happy with that.  They should be able to walk you through the steps, and others might chime in with more specific help or ideas as well.

rodney757

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Re: What to do with 403b from ex employer?
« Reply #2 on: April 23, 2012, 05:56:00 PM »
^ thanks

So the accounts to be rolled over are: $72k 403b, $37k 403b, $22k annuity, and $34k pension.

I think that rolling all the accounts over into an ira with vanguard would be good. I'm not sure about the annuity. Should it be rolled over or just left alone?

Any opinions would be greatly appreciated.

James

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Re: What to do with 403b from ex employer?
« Reply #3 on: April 25, 2012, 07:36:09 AM »
I really don't know much about annuities, but I bet if you call vanguard they would be happy to go over your options.  Just make sure you look at all fees and possible costs of making any change with each account, and then you can make your decision.