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403(b), 457 and Pension Rollover
 
Rollover Basics:
 
The federal government established the 401(k) in 1981 with special tax advantages to encourage people to prepare for retirement. Its name comes from the numbered section found in the IRS rule book.

By instituting the modern day 401(k) plan, the Federal Government essentially transferred the responsibility of retirement planning to its citizens.

Can you rely on Social Security to secure your financial independence? Consider this:

The total Federal Government debt at end of fiscal year 2003 was $6.8 trillion. (According to the Bureau of Public Debt, US Treasury.) Of that total, $2.9 trillion was owed to Trust Funds. Trust Funds are accounts such as: Social Security Trust Fund, the Federal Employee Retirement Fund, Federal Medicare Hospital Trust Fund, Military Retirement Fund, Employee Life Insurance Fund.

Research shows that you should not rely solely on Social Security or Company Pension plans to fund your retirement.

Therefore, your 401k rollover retirement plan could become the most critical component to your financial independence. Why? Because you will be in control of your rollover plan.
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Bullet Arrow  What is a 401k plan?
Bullet Arrow  What is a 403b plan?
Bullet Arrow  What is a 457 plan?
Bullet Arrow  Who is in charge of my 401k (403b, 457, etc) plan?
Bullet Arrow  How can I take control of my 401k (403b, 457, etc) plan?
 
 
What is a 401k plan?
A 401(k) is a type of retirement plan that allows private sector employees to save and invest for their own retirement. Contributions to your 401 (k) are tax-deductible, which means you are not taxed on the contributions you make. Your employer offers a limited number of investment options from which you can choose from.

The federal government established the 401(k) in 1981 with special tax advantages, to encourage people to prepare for retirement. They get their catchy name from the section of the Internal Revenue Code which established them, section 401(k).
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What is a 403b plan?
Similar to the 401k plan which is for private sector employees, the 403 b plan is a retirement plan authorized in the tax code for nonprofit and educational employers.
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What is a 457 plan?
Similar to the 401k plan which is for private sector employees, the 403 b plan is a retirement plan authorized in the tax code for public-sector employers.
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Who is in charge of my 401k (403b, 457, etc) plan?
You. HOWEVER, since the 401k, 403b and 457 are company sponsored plans you are very limited in the investment options available to you. You might have as little as 5 investment options or as many as 100 investment options*.

Consider this; there are thousands of investment options available (just not in your 401k). Make sure you have access to all of them when you rollover your 401k.

* Statistics show that the best performing mutual funds (based on 3, 5 and 10 year performance averages) are not available in most 401k, 403b and 457 plans.
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How can I take control of my 401k (403b, 457, etc) plan?
Leaving your employer gives you the unique opportunity to gain full control of your 401k plan. Get your free "rollover intelligence report" to find out how to get the most investment choices available. After all, your financial independence depends mainly on the investment options available to you.
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