403b to IRA
Can a currently employed individual, over 59-1/2 rollover/direct transfer their 403b suppplemental retirement annuity (SRA), salary deferal dollars only, to an IRA? Employer is nonprofit and does not allow in-service distribution of RA which contains employer contributions and salary deferral dollars. We’ve done 403b to 403b in the past on SRAs, but with the new regulations that doesn’t seem possible if the new custodian doesn’t have an agreement with the employer. Is it possible for the employee to transfer this money to a custodian of their choosing by going to an IRA? Thanks, Susan
Submitted by Susan Mims on Thu, 2008-02-28 20:29