My wife has a 403 retirement plan. (I think that is what it is called; it is like a 401K, but for education employees..)
At the bottom of her current statement it says "new legislation opens up Roth IRA conversions to anyone". Does that include her, or does TIAACREF have to work on their statements?
403(b), close enough. If your wife is 59-1/2 or older AND the plan permits, she can transfer it to an IRA or Roth IRA account.
Prior to 2010, one could convert an IRA to a Roth IRA only if their income was below $100K. That limit goes away this year. So the statement may be correct but not apply to the 403(b) holder.
Joe
She is 57 1/2, so I guess we wait 2 years. thanks.
If she's no longer working she can roll over to Roth at any age. If she's still working, check her plan to see at what age she can do in- service rollovers.
Phil Marti Clarksburg, MD
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