When you roll over retirement plan assets, you're moving them from a group plan into an IRA (which generally offers greater investment flexibility). 403(b)-to-Roth conversions are allowed The short answer is yes, you can convert a 403(b) account to a Roth IRA. If you have a 403b plan and you are leaving your employer, you might want to roll the funds in your account over to another type of retirement plan. This is a question you should ask yourself when you leave your current employer. Your former employer may offer additional services, such as investing tools and guidance. However, one of two conditions has to be met before you can do so. Distribution — Rollover Use this form to request a rollover distribution from your 401(a), 401(k), 403(b) or 457(b) governmental employer plan. You still have the option of rolling over to an IRA or to a 401(k) offered by a new employer in the future, if the new employer's plan accepts rollovers. Why? The Internal Revenue Service defines the retirement age as 59 1/2. If a person is still employed with the same employer that is providing the 403b and 457 plan, they can not roll the money over from the 403b to the 457. Fill in by hand using CAPITAL letters and black ink, or on screen (if PDF). Under federal law, assets in a 401(k) are typically protected from claims by creditors. Account Owner/Participant Roll It Into Your New Employer’s Retirement Plan. Provided your new job offers an employer-sponsored retirement account, you can just roll over your old 403(b) into a new retirement account if the new employer’s plan accepts this type of rollover. An employer-sponsored plan, such as a 401(k) or 403(b), you can initiate a rollover—typically, when you change jobs or retire. If you have the funds sent to you by check, you'll likely be … As further described below, you can roll over assets distributed from an IRA (indirectly) and from an employer-sponsored qualified retirement plan (e.g., 401(k), 403(b) or … Should you perform a 403b rollover to a Roth IRA? A 403(b) plan, also known as a tax-sheltered annuity plan, is a retirement plan for certain employees of public schools, employees of certain Code Section 501(c)(3) tax-exempt organizations and certain ministers. However, if you leave the job, you can roll over the 403(b) to another retirement account like an IRA, a 403(b) or a 401(k) at another employer without paying a penalty. However, it is important to follow the 403b rollover rules established by the Internal Revenue Service. A 403(b) plan allows employees to contribute some of their salary to the plan. If you need more room for information, use a copy of the relevant page. 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