DIRECT TRANSFER 403b to IRA
Can a Direct Transfer from a 403b be made to an IRA in an effort to Consolidate several Accounts into 1 simple IRA?
Please advise.
Thank you.
Can a Direct Transfer from a 403b be made to an IRA in an effort to Consolidate several Accounts into 1 simple IRA?
Please advise.
Thank you.
Permalink Submitted by Alan Spross on Tue, 2011-11-08 18:28
Yes.
Note that there is a specific form of IRA called a SIMPLE IRA and you cannot roll a 403b into that type of IRA. A SIMPLE IRA differs from a traditional IRA. I assume your question involved doing a direct rollover to a traditional IRA, and you can do that.