Early Withdrawl

L1: Early WithdrawlI recently relocated to another state and would like to access my retirement money from my previous employers retirement fund at tiaa-cref. I heard that I can avoid initial tax and penalty by rolling it over into a Rothand then I can withdrawl funds from the Roth without paying a penalty or tax. Is this true?If so is there a waiting period prior to being able to withdrawl from the Roth? If this informationis not correct, isthere anyway to access part of my retirement money without paying penalty or tax and without taking out a loan? Thanks.2003-08-25 16:34, By: Jac, IP: [127.0.0.1]
L2: Early WithdrawlYou cannot go directly from a TSA (403(b)) to a Roth IRA. You must first rollover the funds to a traditional IRA and then to a Roth IRA. If you then move the funds to a Roth IRA from the Traditional IRA, there is no penalty, but you will be taxed on 100% of the gain (pre-tax dollars) that are rolled over.
Almost sounds like you are getting some mis-leading advice or maybethe individual doing the explaining needs to do it again.2003-08-25 16:42, By: Gfw, IP: [127.0.0.1]

L2: Early WithdrawlHi to all.
Thanks once again for all of your help.
I am in the process of buying a house (not first one) and temporarly needed additional funds for the down payment.
I am considering taking about 40K from my 72T retirement account and paying it back in about 60 days.
What are my tax considerations?
I have received about 100K in payments since the plan started. (about 76K so far this year) The plan is worth about 1 mil.
Will I bust the plan by making this withdrawal and owe on the entire amount received since inception or am I just paying penelites on the 40K withdrawal.

2003-10-23 11:22, By: Bob, IP: [127.0.0.1]