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smiele

How Do I Keep Control Of Money

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I have a 403b with great west which mpls.pub. schools helped me set up in late 90"s I was happy because they also had some guidance with a company. In 2004 i was told I needed to set up an account with Valic. i had a bad experience with Valic and did not want to switch. i checked with several friends who had accounts with Vangarrd. Because of the change the district removed our asst.company and now tell me I can not get access to my money in Great West inorder to transfer it into Vangarrd. I do not want my money in Great West and I will not transfer it to a company I do not trust. What is my recourse. The district never told me their was a time certain to transfer my money out of Great West. help

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I transferred money out of Great West, a stupid annuity, some years ago after I was told I couldn't..I read in the contract that yes, I could, if I did it over time...They "lost" the paperwork, and sent forms which had to all be sent back, even the pages with just gobledegook, but I got it...the 5 years it took for distribution was in order not to pay even greater surrender charges...but the experience was good for me! I learned as you have learned that there are sharks out there...and we have to say no...you could make automatic payments from your savings or checking account to an IRA, and even look at a Roth IRA, because the tax bite now while you are working might not be as bad as letting that Roth grow and getting the gains out without taxes... Just an angle....Good luck...they are tough cookies, those annuity p****s, Dan

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Guest Sierra

Good luck...they are tough cookies, those annuity p****s, Dan

================================================

And some of their victim/clients are just as tough.

 

Peace and Hope,

Joel

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I believe this is a case where the employer has just said NO to any 90-24 transfers. My understanding is that they can do this and do not need a reason to do so except that the law allows them to.

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