403(b) rollover to IRA
I know that employee deferrals into a voluntary 403(b) which has no employer match and is not an ERISA plan can be directly rolled over into an IRA if there is a triggering event such as reaching age 59 1/2 or termination from service but does an employer need to allow such a rollover if the ee is over 59 1/2 and still employed?
Permalink Submitted by Denise Appleby on Fri, 2008-11-14 09:25
You want to check the agreement to determine the distribution rules that apply.
Depending on when the account was opened, and if the account is considered ‘part’ of a 403(b) plan, the Vendor may need to communicate with the employer about the distribution.