I am changing job before a 5 year vesting period so I need to cash out or rollover my pension. Clearly cashing out is a bad idea and will roll it over.
I have the option to rollover my contributions to
A/ 457 plan (govt plan)
B/ 401k plan
C/ IRA
I like the idea of rolling it over to IRA but I might have read somewhere that I CANNOT do backdoor Roth if I have IRA balance.
My new employer doesn't not offer 401k. It offers 403b and 457.
I also have a 457 account with my current (soon to be old) employer and the 457 is managed elsewhere, i.e. is separate from my employer, so I believe I can rollover my pension to either new or current 457 accounts.
Any recommendations about these choices and the process?
Thank you!
I have the option to rollover my contributions to
A/ 457 plan (govt plan)
B/ 401k plan
C/ IRA
I like the idea of rolling it over to IRA but I might have read somewhere that I CANNOT do backdoor Roth if I have IRA balance.
My new employer doesn't not offer 401k. It offers 403b and 457.
I also have a 457 account with my current (soon to be old) employer and the 457 is managed elsewhere, i.e. is separate from my employer, so I believe I can rollover my pension to either new or current 457 accounts.
Any recommendations about these choices and the process?
Thank you!
Statistics: Posted by BorqaZ — Mon Apr 01, 2024 11:23 am — Replies 3 — Views 159
