Moving 403b account data from one institution to another

speedlever
speedlever Member ✭✭
edited February 2020 in Investing (Windows)
My wife works for a local hospital. Their retirement funds were managed by VALIC. About a year and a half ago (Sept 2018), her hospital was bought by another hospital and all retirement funds were transferred to similar funds within Transamerica.

How can I go about changing/moving her fund information from VALIC to Transamerica? I'm a bit overwhelmed with all the data and not sure how/where to begin. I know I'm behind dealing with this, but I'd like to get it sorted out. Eventually.

Some of the VALIC (fixed interest) has yet to be transferred too. I don't recall the reason why right now. But it was explained at some point in the past.

Comments

  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
    One question is.....
    have the same exact account holdings been moved over from VALIC to Transamerica -
    OR - were the old holdings "sold" and the proceeds transferrred over and "purchased" new equiv funds.
    Quicken Subscription - Windows 10
  • speedlever
    speedlever Member ✭✭
    That is an excellent question and I'm not sure. I'll try to find out.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    It's highly likely that VALIC had you in proprietary funds (i.e., their own).  What funds Transamerica has you in is unknown to me ... but MOST unlikely to be the same funds as VALIC.
    SO, I'd suggest that you sell all of the VALIC funds, changeover the account from VALIC to Transamerica and then BUY the new funds.  There's really no need to set up a new account since it's all "your wife's 403(b) funds".
    BTW, congratulations on escaping VALIC.  It took me 4 years to get my wife's funds out of them ... and she no longer worked for the employer who sponsored those accounts.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • speedlever
    speedlever Member ✭✭
    That makes sense. Except for the delayed transfer from VALIC fixed interest. Can't remember why that hasn't completed yet.
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