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Tickle · the · Pear


403b foibles

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The 403b is the non-profit equivalent of a 401k. Since before this gig I've only worked at non-profits, I have three separate 403bs. I finally did some housekeeping on the stray 403b accounts. One was at ING, where my current 401k is held, so I asked to roll that 403b into my 401k. One was at TIAA-CREF, which I was hoping to continue contributing to, and it turns out that I can't since I'm no longer with the employer, so I'm rolling that one over too. The third I thought I had closed out; however, the statements kept coming, and the last one said I had about $17 in one account and $8 in the other. When I called the rep confirmed that I had closed the account and transferred the funds to my IRA, but that the organization made a contribution after I'd done the paperwork. I asked her how much it would cost to roll the money over, and she said $50 per account. I was incredulous. I asked her, $100 to transfer less than $30? Yep. So I'm just going to leave it. Weird.
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