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If you request a 403b IRA rollover and don't specify that you want a direct rollover, many of the same penalties involved in a distribution of funds may occur, largely negating the advantages of a rollover.

The 403b rollovers are reportable events, although they aren't considered to be taxable events. Unless there's a compelling reason against it, be sure to choose a direct rollover for your 403b IRA rollover.

When you select the IRA direct rollover option, your employer may transfer the funds directly by check or wire to the new plan, or you may given a check payable to the new plan that you deliver.

One of your most flexible 401k rollover options is moving your full account value into a rollover IRA. An IRA gives you greater freedom in choosing investments than a 401k rollover option.

According to current IRA rollover rules, the new account trustee will probably have some forms for you to complete. As far as financial transactions go, the process will be fairly painless, although you should complete the paperwork with care and review the forms before submitting them.

Choose best options for 401k to IRA Direct Rollover plans......