§403(b)/Roth §403(b) Account Portability
The §403(b) regulations provide for account portability, however your options for moving your §403(b) assets will depend on the provisions in your employer's §403(b) plan.
- While you are employed: Many employers' plans allow you to exchange accounts from one §403(b) approved vendor to another approved vendor. If you have a Roth §403(b), the new vendor must maintain Roth accounts.
- While you are employed: You may be able to rollover distributions from other eligible retirement accounts into your employer's §403(b) plan.
- While you are employed: You may be able to rollover eligible distributions from your traditional §403(b) into a Roth §403(b) if your employer plan offers a Roth option.
- If you leave your job: Your account can be transferred into another employer's §403(b) or rolled to a §401(k)—if both your former and new employers' plans have provisions allowing the transfer, and in the case of Roth accounts, if both plans allow Roth contributions. You may also choose to roll your traditional / Roth retirement account to an IRA / Roth IRA, or convert your traditional §403(b) account to a Roth IRA.
You also have the option to rollover assets in your traditional §403(b) account into a Roth §403(b) if your employer plan offers a Roth option.
Please consult your tax advisor before initiating such a rollover or conversion. Legend Equities Corporation and its affiliates do not provide tax information or advice.