I have a few more retirement savings choices afforded to me now than at my previous employer and I'm not sure what to do at this point, having recently changed jobs (faculty job A to faculty job B). Here is a rundown of my situation:
1. I had a 403(b) with my former employer to which I and the employer contributed fixed, mandatory amounts. I was fully vested when I quit. The account balance is currently a little over 100K.
2. My new employer provides a 401(a) funded 100% by the employer, and a voluntary 403(b) for which I can adjust contributions or opt out.
3. Based on my income I am still eligible to fully contribute to a Roth IRA but have not yet done so.
4. I prefer a hands-off management strategy. All accounts are with Fidelity.
I'm wondering (a) what to do with the old 403(b) and (b) the pros and cons of adjusting down/opting out of contributions to the new 403(b) in order to contribute to a Roth IRA.
Thanks for all advice.
1. I had a 403(b) with my former employer to which I and the employer contributed fixed, mandatory amounts. I was fully vested when I quit. The account balance is currently a little over 100K.
2. My new employer provides a 401(a) funded 100% by the employer, and a voluntary 403(b) for which I can adjust contributions or opt out.
3. Based on my income I am still eligible to fully contribute to a Roth IRA but have not yet done so.
4. I prefer a hands-off management strategy. All accounts are with Fidelity.
I'm wondering (a) what to do with the old 403(b) and (b) the pros and cons of adjusting down/opting out of contributions to the new 403(b) in order to contribute to a Roth IRA.
Thanks for all advice.
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