I stumbled across this website yesterday, and have since found it super helpful! I wanted to pick your brains on a dilemma of mine.
I used to work for HISD (Houston, TX) where I had a 403b account with AXA. I opened the account on 10/22/2010 and contributed $9,596.82 during the year that I worked in that school district. As of 12/31/12 (more than 2 years now), my total account value is $10,355.09. I currently work at a private school which offers 403b plans with TIAA-CREF.I was ineligible in my first year here, so I just opened an account and started contributing to it this past fall. When I received my quaterly portfolio review from AXA equitable, I was a little infuriated to see the $30.00 annual fee deducted from my account (more so because I know TIAA-CREF doesn't charge annual fees, is that right?). Anyways, I thought it might be easier if I had all my money in one account (or with one 403b provider). So I am thinking about transferring the money I have in my AXA account to TIAA-CREF. I am 26 years old and don't really need the money now (and hopefully for the next couple years) so I wanted to run this idea by y'all and ask if it's a good idea to transfer the money to TIAA-CREF or if I should just let it stay with AXA... After all, a little surprise later in the future wouldn't be bad (i.e. I discover 30 years from now that my $$ with AXA is $100,000 lol)
This is what my AXA portfolio looks like:
Large Cap: 36.96% (EQ/BlackRock Basic Value Eqty: 20.24% and EQ/T. Rowe Price Growth Stock: 16.72%)
Small/Mid Cap: 29.65% (EQ/GAMCO Small Company Value: 13.66% and EQ/Mid Cap Value PLUS: 15.99%)
International Stocks/Global: 23.75% (EQ/Global Multi-Sector Equity: 11.54% and EQ/International Value PLUS 12.21%)
Note: I think the AXA lady advised me to go aggressive with my investments since I am young (well, that's what she told me). I didn't do any research when I opened the AXA account--well, the lady literally forced it down my throat. I didn't even know what a 403b was (still learning more and more each day).
I spoke to a TIAA-CREF rep yesterday and he emailed me the forms that I need to fill out and send to AXA, but I wasn't sure if AXA was going to charge any fees for pulling out (anyone know?) and even if they would allow me to transfer out. I think I suggested it once when I first moved to my new school, but my AXA rep suggested I keep the account.
Let me know if you need more info from me. Thanks in advance for your insightful answers/comments.