Hi all,
My last day with my current company is next week. I have a 403(b) along with a Retirement Contribution Plan, the latter of which my employer has deposited 2-3% of my annual salary into the account. It's a small-ish balance (just under 5k), and thus my options are:
1. Receive a distribution
2. Have it paid to a traditional IRA or a Roth IRA (I've never had either)
3. Direct distribution to an IRA with an organization called Retirement Clearinghouse (RCH).
I'm assuming if I go with option 1, there are tax disadvantages there. If that is accurate, my question basically boils down to whether I should setup my own Roth (option 2) or just go with option 3. As I've never had a Roth, at this point I'm not sure if there's a big difference between an RCH or Fidelity, etc for what's a pretty small balance.
I'd appreciate any thoughts. Or if additional info is needed, I'm happy to share.
Thanks!