FAQ – Individual Retirement Accounts

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Can I move an IRA over to the 403(b) plan?

Yes, you can roll over assets from an individual retirement account (IRA) to your 403(b) plan, provided neither one is a Roth account and your 403(b) plan accepts rollovers. Check with your district to see if its plan accepts rollovers.

Rollovers are also allowed from a traditional IRA to a 457(b) if the 457(b) has separate accounts and accepts rollovers.

You will have more investment options if you leave the assets in your IRA, since you can open an IRA at a variety of organizations – such as banks, credit unions, mutual fund companies, life insurance companies and stock brokers – and choose from any investments they offer. On the other hand, your 403(b) investment choices are limited to products offered by the vendors that your district has approved.

However, if you’re satisfied with the choices available in your 403(b) plan, rolling your IRA over into it may make sense. Consolidating accounts can make it easier to track and manage your overall retirement portfolio.

Another consideration is comparing the fees on the IRA (investment, administrative and transaction costs), with those of the 403(b) plan you are considering rolling into. If the fees are dramatically lower in one versus the other, this could be an important factor in your decision.

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