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403b conversion questions.
JimMilliken 06-27-2005, 8:34 AM | Post #148518 | 
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I have a 403b plan through my employer. The 403b is actually a variable annuity that is administered by ING. My employer had a matching contribution program for a short period, however this program is no longer available. I make my contributions using the dollar cost averaging, pre-tax method. Due to my income level, my yearly contributions fall far short of the maximum that is allowed. I am in my late forties and may be changing jobs/careers (not by choice!) in the not too distant future.

Should I stay with the program or wait to see what the future brings? My 403b holdings consist of two index funds. Overall,their performance is middling and the fees are an unbelievalbe .40! Believe me, those were my best options. I have an account with Vanguard and in fact have an IRA there. An issue for me is that I have been informed that if I transfer out of my ING annuity, I will face some fees. Not totally unexpected because I have a variable annuity that a financial advisor sold me years ago--a rant best left for another posting. At the very least I have been considering terminating contributions and "sitting" on the 403b for a few months to wait things out at work. Any suggestions for the proper course of action? I would greatly appreciate any assistance or opinions. Thank you.

Originally posted in thread: 1456
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