New to the forum and love seeing the support for educators in getting in better accounts! I am learning a lot!
My situation and question is this: I've got a 403b account with Voya Advantage Century (Reliastar) with an average expense ratio of .73% and annual costs of $243. 403b compare says that the expense ratio is "low" but I'm looking at Vanguard and the expense ratio is .15%. Furthermore, the Vanguard account has an annual cost of $75. In addition, Vanguard's investment fees are only $15 per $10k invested whereas Voya's investment fees are $73 per 10K invested.
I have about $80K invested and about a 10 year time horizon before I'll be drawing from the account.
My plan is to do a contract exchange from Voya to Vanguard but there is a $1615 surrender fee I stand to lose. Is this worth is? I want to make sure I'm doing the right thing.
Thanks for any input!