Roll over 403b to my current employer's plan?

Question

A couple of jobs ago, I was making contributions to my employer's 403b plan with Janus. The other day, I got a letter from them saying that Janus will no longer be an eligible 403b vendor after the end of the year. The letter explained that one option might be to roll over my balance into my new employer's plan. I'm currently contributing to a 403b with Fidelity. My employer also contributes.

Question is, how do I do this? Do I initiate this rollover with Janus or with Fidelity? Will either institution charge a fee for it? Are there taxes I have to worry about? Does this count as a contribution to my new plan that my employer will match a portion of?

Thanks in advance for helping!

Answer 1

You should contact your Fidelity Rep and get some ideas on what they can do.  Generally, you can roll over your Janus funds into an IRA or roll over into a simliar government sponsored 403b fund provided that you work in a government/non-profit/educational position which allows you take advantage of the 403b program.

Answer 2

I did a rollover to my current 401k at my company.  I simply contacted my previous 401k provider.  In your case it would be Janus & they will send you the paperwork to do this.  You simply fill it out, and send it back to them.  You will also have to fill out paperwork for your current 401k..  

Otoh, if you like Janus & their funds, then tell Janus you want to do a rollover IRA with them, and again you will get the proper paperwork to do this.  

Nothing real difficult about either course of action.  More of a nuisance really.