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teacher moved from state to state

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jhughes6500 Joined: 06 Dec 2010 Posts: 1 1.00 Dollars($)	Posted: Mon Dec 06, 2010 4:29 pm    Post subject: teacher moved from state to state Like 0 Dislike 0 I'm a teacher that has 14 years in IL, 8 years in CT, and now working in PA. What are my options? I believe I'm vested in IL, so it is best to leave that alone? Can CT move to IL? Should I move IL and/or CT to PA? Is the only way to move is by rolling in to 403b?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Dec 06, 2010 8:23 pm    Post subject: Like 0 Dislike 0 Hi jhughes! Welcome to forums! If you take out your money from your 403b account, then you will have to pay tax penalty. In order to avoid this, you can rollover your 403b into an IRA. If you already have an IRA with a bank, then you can use the same institution for your rollover IRA. You can inform the representative that you wish to roll over your 403b and request him or her for the appropriate paperwork. Feel free to ask if you've further queries. Sussane

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