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My district recently added Vanguard as a provider for our district. I am so excited about it because I have educated myself with the use of many financial podcasts and websites etc. I appreciate your podcast and site for a lot of my knowledge. My question is should I transfer funds from my Equitable account to Vanguard account while the market is down or should I wait? Thanks in advance.
Hi, I currently have a 403b plan with AXA EQUI-VEST® - 403(b) and AXA Retirement 360. I have about $61,000 in the Equi-vest account and about $12,000 in the Retirement 360 account. Over the last 10 years, I've contributed to the account on and off, but I've completely stopped contributing in October of 2018. If it matters, I'm 32, so retirement isn't exactly around the corner for me. Since I've stopped contributing, I've been maxing out my Roth IRA and have been investing in low-fee index funds through my vanguard account. I'm wondering two things: 1) Aside from the Roth IRA and index funds investments, should I be contributing to a 403b using a less terrible option than AXA? 2) What should I do with the money that I currently have in my AXA account? (I've asked the representative for my account and he's given me the round around about surrender fees.) Unfortunately, my district has discontinued many of the 403b options that have lower fees, and we are left with three options: AIG Retirement Services/Valic (19 bps), AXA (31 bps), Lincoln (25 bps). The district has also started offering 457b plans, but I've never had one. Any advice is appreciated!
How about AXA now requiring every transfer out to have their own personal unique code on the transfer form or they will reject the transfer. This means the client has to login online and most likely call the call center after a 30 minute hold time just to get their login info. How can this even be legal?
Hello All, 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%) Guaranteed-Fixed: 9.64% 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. George