Author Topic: Company changed from SIMPLE IRA to 401k, should/can I move the SIMPLE IRA?  (Read 840 times)

BiggerFishToFI

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My company changed from a SIMPLE IRA to 401k about 1.5 years ago. I have had the SIMPLE IRA for 3 years before that so I am past the 2 year period to convert it. The SIMPLE IRA has ~15k in it.

Questions are:

Can I move/convert the SIMPLE IRA from American Funds to a Vanguard IRA even though I am still working for the same company?

Should I move it? The SIMPLE IRA is made up of front-loaded class A American Funds at a 0.74% expense ratio. I know this sucks but it's where I'm at.

Thanks!
« Last Edit: June 30, 2017, 09:33:35 AM by soontoberich »

raven2963

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My company changed from a SIMPLE IRA to 401k about 1.5 years ago. I have had the SIMPLE IRA for 3 years before that so I am past the 2 year period to convert it. The SIMPLE IRA has ~15k in it.

Questions are:

Can I move/convert the SIMPLE IRA from American Funds to a Vanguard IRA even though I am still working for the same company?

Should I move it? The SIMPLE IRA is made up of front-loaded class A American Funds at a 0.74% expense ratio. I know this sucks but it's where I'm at.

Thanks!

We are going through the same thing at our company.  You're past the 2 year mark, so yes you can and should move it.  Do an in kind transfer of all assets, and put it into a traditional IRA.  Took about 2 weeks from start to finish for my account to transfer.  Good luck!


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