401k to 403b
I am not longer employed by a 403b employer but I have a small account balance with that former employer thru TIAA. I also have a 401k from another previous employer. Because the 403b plan offers a guaranteed 3% account right now, I’d like to move the funds from the inactive 401k to the inactive 403b. Can I do this and what are the issues to be concerned with? Can I later move all or part of that 403b to a 401K? Is it a problem to commingle the 401k to the 403b both were pretax. I have a current 401k account with my now employer and that is invested more in line with my retirement goals. I want to take advantage of a guaranteed fund even though the percentage is low.
Permalink Submitted by Alan - IRA critic on Sun, 2015-05-24 17:42
IRS rules permit the rollover of the 401k into the 403b, however since you are no longer employed there it is not likely that the 403b plan would accept rollovers from other accounts. You will have to ask the plan administrator. If they did accept a rollover you could roll it back out anytime you wanted since you are no longer employed there. There is no problem in commingling the old 401k and 403b, but again I doubt the former 403b would accept a rollover.