IRS Revenue Ruling 90-24 "asset transfer"

[dh003i]

I'm working for the University of Rochester. I contribute the max to my 403(b) plan each year, and am wondering how I can roll over my money into a Traditional IRA, so that I can then convert it to the Roth. I was told that I can do a 90-24 "asset transfer". Is it possible for me to do this, irrelevant of what my employer says? I like the Roth IRA tax benefit better than that offered by a 403(b), because over the long-term, the growth on my money will make it worth-while to pay the taxes up-front. Does anyone have any suggestions?

[Guest LVanSteeter]

Unless you have met a reason for distribution (age 59 1/2; termination of employment, etc.) you will not be able to take funds out of the 403(b) into the IRA account.

90-24 transfers allow the funds to be moved from one vendor to another, not from one 'retirement plan' type to another.

[Guest Yanikoski]

Under current law, Roth-style accounts will be possible within 403(b) and 401(k) plans starting in January 2006. Both your employer and your product vendor will have to cooperate before you can take advantage of this, but if you can wait two years or so, you may be able to get what you are looking for without leaving your existing plan.