403b Update: 90-24 Transfers To End on September 25, 2007

The ability to transfer in service 403b plan assets to an outside vendor, currently available to 403b planholders under the 90-24 transfer rule is set to be eliminated on September 25, 2007. All 90-24 exchanges must be completed by September 24, 2007.

The 90-24 provision allowed investors to move 403b monies from high cost annuity plans to an investor's preferred fiduciary. The 90-24 provision disappears with the New Finalized Regulations governing 403b plans.

Two links announcing the September cutoff are available on 403bwise:

New 403b Transfer Rules
New Transfer Rules Require Immediate Action.