Retirement planning noob, advice needed after changing jobs

[SmallChange]

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.

[jfoxcpacfp]

• If you will remain at this income level for the foreseeable future (i.e. low enough to contribute to a Roth IRA), recommend you r/o your 403b to an IRA at Fidelity.


• If your income increases to the point that you cannot contribute to a Roth, and if your new plan accepts roll-ins, then roll your IRA into your 403b.


• The value of contributing to a 403b over a Roth IRA is that your contributions are deductible. If you cannot afford to do both, then you have to make the decision if the current tax deduction is worth more than the future tax-free growth in the Roth IRA. That is a question to discuss with your financial planner or CPA.

fwiw, a hands-off strategy is good in the sense that you are not tinkering with your portfolio and try to time the market. It is very dangerous if the portfolio you are not attending to is not appropriately diversified and not rebalanced periodically.