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401k/403b rollover - advice requested
I have 2 401k accounts, a 403b, and a Roth 401k account. Total vested balance around $60k, I believe.
To state the obvious, yes I do change jobs quite a bit! Is it fair to assume that I'll save on fees if I roll over the 2 traditional 401k and the 403b into an IRA? Also, what are my options with the Roth 401k? If rollover is preferred, can this be done online? I know how lazy I am and if this requires phone calls, faxes, or in-person appointments, it's very likely that I'll procrastinate and nothing will get done. |
I'm in a similar situation, those with a 403b, a 401a, and a 457 from my previous job. Have a 401k in my job now. It'd be nice to consolidate all the accounts from my previous job - would rolling them all over into a(n) (Roth) IRA be the way to go?
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Do you have any outstanding loans on any of these accounts? You will need to open a Traditional and a Roth IRA somewhere. Whoever you open the accounts with, ask them how the rollover checks should be made out, and what address to send them if they are first sent to you. Then you will then need to contact the custodians that administer your 401k's and 403b to see about their procedures. The process can varily by company. Hopefully the will take your instructions over the phone. In my experience most will require paperwork. Also ask if they require a Letter of Acceptance; if so request it from the company where you opened the IRAs. |
I rolled into vanguard recently.
They did all the work. It was fairly easy. |
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