403B to 401K

[Guest kbett]

I relayed to my boss that you can't transfer assets from an existing 403B account to a newly set up 401K account (same company) without a distributable event. He wants me to confirm that this is true -- any takers?

[joel]

I relayed to my boss that you can't transfer assets from an existing 403B account to a newly set up 401K account (same company) without a distributable event. He wants me to confirm that this is true -- any takers?

Tell him/her to check out Internal Revenue Code section 403(b)11.

[Guest kbett]

So, if I'm interpreting this correctly, a 403b annuity cannot be rolled over into a new plan, correct?

[zimbo]

A rollover from a 403(b) to a 401(k) can be done (assuming there is a distributable event to receive the distribution from the 403(b)).

A transfer from a 403(b) to a 401(k) cannot be done

[TLGeer]

Depends on the facts. Is the 403(b) frozen? Is it terminated? Why 401(k) rather than 403(b), prospectively? Have you considered a distribution of the annuity? What's the objective?

Tom Geer