TSA or Simple IRA to IRA Transfers
I have a client who, because of the availability of a certain investment vehicle, and who is participating in a TSA (403)(b) through a mutual fund, roll a portion of his funds out of the TSA into an IRA? He knows he will lose borrowing privileges, but feels the benefits he will gain are worth the tradeoff. I have two clients in a SIMPLE IRA plan who would like to do the same thing. I do not want to violate any rules that could invalidate their existing plans. Can anyone shed some light on this?
Permalink Submitted by Alan Spross on Tue, 2010-01-05 19:51
This can be done from a SIMPLE IRA once the 2 year period has passed from the date of the first contribution to the SIMPLE IRA.
The 403b rollover generally cannot be done while still in service unless the employee has reached 59.5, but just in case it would be wise to check with the plan.