Friday, June 29, 2007

403B roll over into?????

I need help!!!!!!!!! In the upcoming weeks I have to make a decision to roll my 403B over into am guessing an IRA. I have never had to do this. When I left my previous job because the 401K was less than $1,000 I took it and paid bills. NEVER AGAIN. I am a few years wiser and I know better now.

This much I know:
You have to roll it over into an IRA.

I need advice as to what other people have done. What company did you use? Vanguard pops up a lot so far.
The process good or bad? It is going to take a few weeks for me to figure things out because investing and choosing investments is not my thing. I started my 403B to get the company match. Do not ask me what funds or whatever because am near clueless on that. This is about to change!


Sistah Ant said...

i've noticed that vanguard pops up a lot, too. i don't have anything to roll over but i am looking for an IRA to start. let us know how the process goes (i might learn something!)

Moneymonk said...

I have TD Ameritrade for my Roth IRA. Very good company and good customer service.

Vanguard is where my 401k resides.

Anonymous said...

I rolled a 401k over into an IRA at Vanguard. Vanguard calls these "Rollover IRAs", simple enough. The process went fine, I just made sure to put "Vanguard for the benefit of My Name" down on the from from HR specifying who should get the check.

Ms. MiniDucky said...

It's actually a fairly simple process. When I first rolled mine over years ago, I went to WAMU because they were my bank and I wanted it somewhere easy until I figured out what to do with it. Then I just filled out a couple forms indicating that it was a Rollover from "X" company, directly into WAMU, and submitted the paperwork.

Anonymous said...

Make sure you find out the laws on doing this in reguards to time and penalties. If I recall you have 60 days to complete this process or else you'll be hit with penalties. Please don't procrastinate and make sure you research about the laws. Good Luck

everythingiseverything said...

I rolled my 403b from my old employer into a an IRA through Mutual of America (I couldn't remember the name of the company) which is the same one that my 403b with my current employer is through. I just did that for convenience. I pretty much picked my funds randomly, keeping mind that I'm young and can take risks, supposedly.