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  1. Again I am just very thankful to have come across this site and everyone who has shared information and to be in a district that has access to this plan. I have already spread the word about this program. There will absolutely be a ton of teachers leaving Axa and metlife. I have emailed my "advisor" from metlife 3 times about the surrender value of my account and still have not heard back. Will be giving his office a call Monday.
  2. They have in fact reduced it down again to $35.
  3. Got it, I did not realize thats what Steve was getting at. Its a shame this plan isnt offered everywhere. Its also a shame that the unions allow these high cost annuity based 403bs into our school districts. But ill be honest I highly doubt most unions are even aware of the insane costs of these plans unless someone has a clue about investing that is high up in the rankings.
  4. So now I am a bit confused here with all this back and fourth. I read my paperwork five times and the only fee I see is a $35 per year custodial fee plus ER of funds which are ridiculously low cost. Some as low as .04%. So did I miss something or is Steve refering to Lincoln Investments other plans they offer? I was also able to confirm there is not one teacher in my district that participates in the participant direct. I guess I will be the first.
  5. Hi everyone, just wanted to thank you in advance for all of this information. 5 years ago I was sold an annunity through Metlife for my 403b and had been wondering why I have not had a great ROI thus far. Well once I read through all the paperwork I realized they were charging me a 1.15% M&E fee plus the ER of the funds. My total costs all in were just under 2%. Yikes! It just never occured to me to check. After coming across your sight and gathering lots of information I decided to take things into my own hands and call a few other companies that were available ( Lincoln Investments and AXA) No one had anything good to say about AXA so I called the LF advisor. Nice guy but still high fee of 1.25% plus ER. Contacted LF offices about Participant Direct and had all the forms sent over to me. I am in the process of filling them out and deciding whether it is worth it to pay the surrender fee of 6% to get my money out of Metlife. Anyone else go through this process with LF and could offer any advice in advance. I am not new to investing. Just advice on paperwork and transfering. I am friendly with my payroll department so they have stopped all contributions to Metlife. They had no idea there was such a program with Lincoln (NJ School district with approximately 200 staff members) Again, thank you for this awesome forum.
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