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Tony Starks

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  1. Hi, I am new to the community and have some questions. I am currently employed by the University System of Georgia and have been here for 17 years. I stated contributing to a 403b in 2012, and have been contributing every month. Up until this point, Valic/AIG was our only option for the 403b and 457 plans at my college. Previously the choices for plan vendors varied depending on the college/university you were employed with. Recently the University System of Georgia decided to overhaul the 403b and 457 options, going to three providers (Valic/AIG, TIAA and Fidelity) that members of all institutions could use for their plans. Here is the website that lists the info on the plan changes: https://www.usg.edu/hr/benefits/retirement All the plans offer the same fund options now, however the fees charged vary depending on the provider you choose. I have already stopped sending contributions to Valic/AIG, and have future contributions going to TIAA. I have opted for Vanguard VIIIX, which has the following total fees (including fund expense + plan administration fees) and VIIIX fees vary as follows: Fidelity 0.1204% TIAA 0.0754% Valic/AIG 0.1504% Obviously TIAA has the lowest fees for this same VIIIX fund of the three providers. The question that I am looking for some advice on is: now that I have the option of using TIAA at a lower expense, can I move my existing money from Valic/AIG ---> TIAA? And will there be any surrender fees or other charges that I am going to be charged by Valic to rollover these funds from Valic ---> TIAA? If anybody has info. or any experience moving money in this type of situation, you assistance would be great appreciated!
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