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Roth 403(b) to Roth 457(b) Conversion

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  • Roth 403(b) to Roth 457(b) Conversion

    My wife's employer used to offer a Roth 403(b) through Fidelity, to which we contributed a small amount each month. After only a few months, however, the tax status of the institution changed and they no longer allowed contributions and the plan was essentially discontinued other than maintaining the balance in the account at the time while still benefiting from market returns. We focussed efforts on maxing out other retirement accounts through individual Roth IRAs and my Roth 403(b). We're in a position now where we can start contributing to her plan again, which is now offered as a governmental 457(b) through Fidelity.

    My plan is to consolidate the Roth 403(b) balance into the new Roth 457(b), then continue monthly contributions. Any downside to this? We are going to roll all of the money over into a Roth IRA once she leaves fellowship in 2019 anyway, so it's really just to simplify bookkeeping at this point. Investment options are similar in each.

  • #2
    If the Roth 457b will accept the rollover, I agree, this is the simplest way to handle. No downside I can see, given the facts presented.
    Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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