Can I Transfer My 403b to Rollover IRA While Still Employed? (Success Stories!!)

Greg Shepard - S&A Financial Services, Inc.

Hello, everyone! Greg Shepard from S&A Financial Services, your go-to resource for optimizing higher education retirement plans. Today's topic is In-Service Transfers, a powerful strategy that could make a significant impact on your financial future.

🎓 Understanding In-Service Transfers: In-service transfers are a game-changer for those in higher education, allowing you to enhance your retirement plan beyond the limitations of your current employer's offerings.

🚀 Success Story 1: Upgrading Investment Choices: Encountered a scenario where an individual was shackled with lackluster investment choices in their employer-sponsored plan. Leveraging the in-service transfer option (available typically from age 59½), we strategically moved funds. Bond options in the TIAA contract transitioned to the attractive TIAA Traditional for better returns, while equities found a new home at Charles Schwab, providing unparalleled investment flexibility.

💼 Success Story 2: Conservative Investor's Dilemma: Met a conservative investor who was aware of in-service transfers but needed tailored advice. Contrary to the common notion that transfer is usually the best move, we assessed her situation and concluded that taking advantage of TIAA Traditional within her current plan was the smarter choice. By redirecting existing funds and optimizing allocations, she achieved a solid financial strategy without the need for a full in-service transfer.

💹 Success Story 3: Navigating Multiple Vendors: Encountered a case where an individual had funds split between Fidelity and TIAA. The key here was not an outright transfer but a meticulous strategy. Conservative investments at Fidelity transitioned to TIAA Traditional, enjoying its lucrative rates. Meanwhile, other assets headed to an IRA. This showcases that the most efficient solution isn't always a total exit but a thoughtful blend of vendors to suit your financial puzzle.

📚 Key Takeaway: In-service transfers are a tool, not a universal solution. Every scenario is unique, and the right strategy requires careful consideration of your specific situation, goals, and the plan documents governing your institution.

🤝 Connect with Me: Remember, financial decisions are personal, and it's crucial to make informed choices. If you have questions or want guidance on your higher education retirement plan, I'm here to help. Feel free to reach out, and let's ensure your retirement strategy aligns with your aspirations.

⛳ Signing Off for Golf: Now, before I hit the golf course on this unexpectedly beautiful day in Kansas City (apologies for the golf attire!), I want to thank you for tuning in. Greg Shepard here from S&A Financial Services. Take care, and until next time, bye-bye!
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Disclosure S&A Financial Services, Inc. is a registered investment advisor. Content presented is for informational purposes only and should not be considered as investment advice or as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Always consult with your tax advisor or attorney regarding your specific situation.