Can I roll my employer 457 deferred compensation plan into an IRA when I leave my employer?

The employee can transfer into their SIMPLE IRA from a SIMPLE IRA, Traditional IRA, SEP IRA, as well as from employer-sponsored retirement plans (e.g. 401k, 403b, 457 (b)). SIMPLE IRAs cannot accept rollovers from Roth IRAs or Roth designated employer-sponsored plans…

Yes, it is possible to consider a rollover of funds from your retirement plan directly into a Roth IRA. Any amount rolled over is subject to the same rules for converting a traditional IRA into a Roth IRA. Also, the rollover contribution must meet the rollover requirements that apply to the specific type of retirement plan…

In most cases, there is no limit on the amount you may transfer or roll over into an IRA. You are simply moving the money from one type of retirement plan to another. You may transfer or roll over your IRA regardless of your age. However, if you are 72 or older, you must receive a minimum required distribution from your IRA each year. This should be taken into account in planning your rollover…

Yes. You can contribute to a Roth IRA or Traditional IRA regardless of whether or not you have an employer-sponsored plan. In fact, IRAs are a great way to enhance your savings.

While participation in a retirement plan does not change how much you can contribute to an IRA, it can affect whether or not you are eligible to deduct your contributions to a Traditional IRA on your tax return. As long as you have earned compensation, you can always make nondeductible contributions to a Traditional IRA and benefit from tax-deferred earnings…