Jump to content
Sign in to follow this  
newbe4u

Pls Help A Newbe

Recommended Posts

Hello,

 

On my recent search of the internet I came across this very informative site. Hope you all can help. Here's my situation. Opened a 403(b) 3/18/05. Moved to a new school district as of 1/28/08 that does not provide payroll deduction to AXA Equitable (my plan admin). Have not made a contribution since 1/30/08. Current bal. $6721.67...of that my contribution is $6571.66 some of which I rolled over from an H&R Block IRA. Contributed $200.00 a month Sept-June. VERY sure I will NOT teach again after this school year 6/08. $30.00 a year in fees and expenses. Allocations are as follows:

 

25% in Guaranteed

40% EQ/Equity 500 index

20% Black Rock Int'l Val

15% Small Company Index

 

Contacted AXA was told I'd be fined $363.57 b/c of early withdrawal even if I rolled over to IRA. Will need to fill out forms to have it ALL transferred into Guaranteed Interest Account currently 2/1-2/29 @ 4.00% minimum guaranteed 2.00%.

 

Question: Should I (1) Leave it the way it is w/current allocations.

(2) Transfer to Guaranteed Interest

(3) Transfer to AXA IRA

(4) withdraw it all and go somewhere else ...but where?

Open to all and ANY suggestions

 

Thanks

 

Share this post


Link to post
Share on other sites

Hello,

 

On my recent search of the internet I came across this very informative site. Hope you all can help. Here's my situation. Opened a 403(b) 3/18/05. Moved to a new school district as of 1/28/08 that does not provide payroll deduction to AXA Equitable (my plan admin). Have not made a contribution since 1/30/08. Current bal. $6721.67...of that my contribution is $6571.66 some of which I rolled over from an H&R Block IRA. Contributed $200.00 a month Sept-June. VERY sure I will NOT teach again after this school year 6/08. $30.00 a year in fees and expenses. Allocations are as follows:

 

25% in Guaranteed

40% EQ/Equity 500 index

20% Black Rock Int'l Val

15% Small Company Index

 

Contacted AXA was told I'd be fined $363.57 b/c of early withdrawal even if I rolled over to IRA. Will need to fill out forms to have it ALL transferred into Guaranteed Interest Account currently 2/1-2/29 @ 4.00% minimum guaranteed 2.00%.

 

Question: Should I (1) Leave it the way it is w/current allocations.

(2) Transfer to Guaranteed Interest

(3) Transfer to AXA IRA

(4) withdraw it all and go somewhere else ...but where?

Open to all and ANY suggestions

 

Thanks

 

 

Here is the bottom line ... If you are not going to teach anymore, don't put more money in that is tied up in surrender penalties. Open a new IRA at the broker of your choice, whether that is AXA, fidelity, Schwab, etyc ... As far as you AXA 403b goes, just let it grow ... No need in accepting surrender penalties ... I mean it seems to be a fairly balanced potfolio ... So, do your duty as the investor and watch it ... Right now the market is down and if you go all GIA, you will miss the upswing when the market does rebound ... After the market gets back to a good level ... Then consider moving to the GIA and allow it to just grow !!

 

I will inform you that you have opened a can of worms on this website. This is only my opinion. In the end it is your money and your decision.

 

Good Luck !!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

×
×
  • Create New...