I think for Vanguard's 403b you do not have access to admiral shares. If you are up 25.58% YTD, then I believe you are invested aggressively in the S&P500 and an international stock subaccount, so you don't need to worry about that. This is in addition to the sub account fee which all your fund selections have. AXA does have custodial (mutual fund based) 403b plans they have used with school districts, but not currently with CA districts. 10. I have no idea why this seems to be such a big deal because in every case, if you need an annuity, you are better off getting one from anyone but these providers. In fact, millions of people who save in 403(b) plans may be losing nearly $10 billion each year in excessive investment fees, according to a recent analysis by Aon, a retirement consultant. The first tab is the 403 b and the second tab is the roth ira. Our areas of expertise are applied to a range of products and services that are adapted … A 403(b) plan is a U.S. tax-advantaged retirement savings plan available for public education organizations. Also, what state are you in? The board seemed engaged and concerned that OCPS employees’ retirement savings are being raided. Axa Equitable Retirement Account Axa Equivest 403b. If so, you are probably in these sub accounts: EQ/Equity 500 Index (ER = 0.58%) and EQ/International Equity Index (ER = 0.81%). You can post now and register later. If you decide to contribute to your 403b account, i would find a … GE69880(9/12) Cat. EQUI-VEST is a registered service mark of and is issued by AXA Equitable Life Insurance Company (AXA Equitable). It charges a reasonable 0.3% administrative fee on top of fund fees and has no surrender charges or loads. I was a new teacher and just following what everyone else wad doing, then I found bogleheads... Take a look at this document. Since vendors offer the same plans throughout the nation, the sight is very useful in other states. So the current value of your balance has had the 1.78% subtracted out already. The K-12 403(b) is broken. About half the states have state-run low-cost 457 plans that public school district employees can use. What's the best from this list? by krow36 » Mon Feb 13, 2017 10:12 pm, Post Charlotte-Mecklenburg Schools has joined the Omini Group to provide an online administrative system that helps manage your plans in accordance with the Internal Revenue Code requirements. 403bwise.org is the essential guide to 403(b) education, advocacy, and community for all participants of 403(b) retirement savings plans. AXA Equitable, AXA Advisors, LLC and AXA Distributors, LLC are subsidiaries of AXA Financial, Inc. and do not provide tax or legal advice. The average fees associated with operating small 403(b) plans vary widely. August 8, 2017 August 8, 2017 edlafave. Most of our mistakes cost $1000's instead of just $100's.! Provider (product name) Front End Loads Surrender Charge Schedule Annual Fees Asset Based Fees Managed Account Fees AXA Equitable Equi-Vest Series 901 Strat 403b 0% You could consider the fee the cost of learning a lesson about annuities? to have my pretax dollars from my income invested in a retirement -403b The rep never disclosed any information about having to stay with the company for 6 years even if i ended employment, turned 60 or just wanted to transfer my funds to another financial institution's 403B. You cannot move your AXA 403b balance into a 457 plan, it can only be transferred into another 403b plan, unless you quit your current district and are hired at a different district. Just as with a 401(k) plan, a 403(b) plan lets employees defer some of their salaries into individual accounts. This is in addition to the sub account fee which all your fund selections have. Display as a link instead, × It's similar to a 401(k) plan maintained by a for-profit entity. Here’s an illustration of the effect of fees over time. by tchasteen » Fri Feb 10, 2017 11:14 am, Post No guarantees are made as to the accuracy of the information on this site or the appropriateness of any advice to your particular situation. 403bwise Fee Monster. thank you so much! 0 0 Equitable Advisors is the brand name of Equitable Advisors, LLC (member FINRA, SIPC) (Equitable Financial Advisors in MI & TN). These days he runs a 403(b) plan he devised for San Diego County's Office of Education. It shows the difference between a fee of 1.74% and of 0.07%, if contributing $250/month over 35 years, with an assumed  market return of 6%. The AXA variable annuity plan allows you to choose an S&P 500 Index fund and an International  Stock Index fund, but the variable annuity plan has a surrender fee of 5% for 6 years. by krow36 » Fri Feb 10, 2017 9:09 pm, Post All 403(b) products contain fees. This is the screenss of the plans available. Chairman Bill Sublette Agrees to Investigate High 403b/457b Fees. Contact your HR or third party administrator (TPA) for the form. Upton Sinclair: "It is difficult to get a man to understand something when his salary depends on his not understanding it.". AXA is the main annuity provider at my school district. I added the account as an Investing/Retirement 403B and track deposits from my paycheck into it, but cannot seem to link the account online. At the newly redesigned 403bCompare, you can: Learn about the advantages of a 403(b) account. I didn't read your other thread but if it hasn't been mentioned, one reason that school districts and others select these plans from the various life insurance companies is that they can offer these plans to the district for "free". This pdf is only for an American Dental Association plan. # 150223 by tchasteen » Tue Feb 14, 2017 5:31 pm, Post Here are some of the rider benefit fees: Guaranteed Minimum Income Benefit in Protected … I wouldn't use this fund period if there wasn't a small emplyer match. ↳   The Bogleheads® Wiki: a collaborative work of the Bogleheads community, ↳   Local Chapters and Bogleheads Community. This is the screens of the plan names. How to Start a 403(b) 457(b) Videos. If you compare the return of the sub account over a calendar year with that of say the Fidelity S&P 500 mutual fund (ER of 0.04%? Don't miss out on the latest 403(b) news. I added the account as an Investing/Retirement 403B and track deposits from my paycheck into it, but cannot seem to link the account online. With the 403b plan, you haven't mentioned the name of the plan. If you have an account, sign in now to post with your account. This option assumes that the EQUI-VEST TSA Series 201 contract is the only one subject to IRS distribution requirements. Now that I am, I want to switch my funds around so that they are all in index funds. Just as is the case for small 401(k) plans, the cost of running small 403(b) retirement plans varies widely by provider. Specialists recognised after 2008 accept our fees as full reimbursement. Try 403bcompare:  https://www.403bcompare.com/Vendors/Browse. You will have to ask AXA for the expense ratios of the funds in your Roth IRA, and also for any other fees in the Roth IRA. I realize it's very annoying, but it's probably best to pay it, and put your AXA balance in a great low-cost plan. Here are some of the rider benefit fees: If I try to add Axa as a straight Brokerage account I can login, but the account is reported as "Unknown Type". CA law requires that all K-12 403b vendors list the fees of all their offerings on 403bcompare. The max they can charge is 1.34%. A very small number of specialists, recognised before 2008, charge fees higher than we will reimburse. When it comes between choosing between a 403b direct with Fidelity, direct with Vanguard or with Aspire self directed using either Vanguard or Fidelity, there is very little difference in costs. There’s a difference of over $100,000!! Axa Equitable Retirement Account Axa Equivest 403b. Assuming that you are in AXA's variable annuity plan, you will probably be charged a 5% surrender fee, or about $500. I don’t think small differences of about 0.05% make a significant difference unless you are dealing with very large accounts. With no fee at all, $100,000 would have become $2.6 million after 40 years, ... We reached out to Axa, the largest provider of 403(b) plans to the K-12 market. That would be a good deal. Can someone tell me where I see the fees? The fees on the current 403(b) can be drastically reduced . AXA may waive this fee if your account value is higher than $50,000. 403bCompare is a state-sponsored website provided by CalSTRS that gives you an easy and transparent way to compare investment fees, performance and services for the 403(b) plans your district offers. Fees and surrender charges are rarely mentioned and when they are, the teachers look at you like a deer in the headlights. You haven't told us whether your AXA account is an annuity or a custodial account. The Fox, the Wolf, and the Sheep. Also, is the same true for my Roth IRA account? Author Topic: AXA 403b (Read 1007 times) azu612. Trying to get something introduced in our district that gave people the most options and made sense financially. For many teachers, they have started saving for retirement inside of a Tax Sheltered Annuity (TSA). you are a life saver! This would give people access to both Vanguard and Fidelity options, along with a bunch of others. 401(k) plans, on the other hand, are provided by employers engaged in for-profit businesses. Any reviews herein containing “AXA” in any form should be considered to mean “Equitable”. I was able to go through the vanguard/newport group 403b enrollment for my wife. A 403(b) is a retirement option that is only available to public school workers, certain nonprofit organizations, ministers, and select other individuals. Equitable is the brand name of the retirement and protection subsidiaries of Equitable Holdings, Inc. Equitable Financial Life Insurance Company (Equitable Financial) and its affiliates do not guarantee the accuracy or applicability of the information included in any customer review. A slight increase in fees can substantially reduce the growth in your account which will reduce your income in retirement. Together we can fix it. A slight increase in fees can substantially reduce the growth in your account which will reduce your income in retirement. That seems low to me (0.3%) or is there something I'm not seeing? https://docs.google.com/presentation/d/1Q4vixuuGGAVzZIF0G1EOriI_RQPuqgn_bpOmh9UrqPc/edit?fbclid=IwAR2OvqHkAGsK7BUtNOfYn7sR3vlBWek60WVm6xecfaSf6mzp7pfvMjlblPY#slide=id.p5. I was signed up with AXA at a school professional development meeting. Axa pays a commission of 1.5 percent to 2 percent on every future dollar an employee contributed to a 403(b) annuity. Cashing out a $10,000 403(b) for a teacher in a 28 percent tax bracket will include a $1,000 penalty and $2,800 in taxes. Although Aspire adds the 0.15% fee to Vanguard’s and Fidelity’s expense ratios, Aspire is able to use both VG’s Admiral class index funds as well as Fidelity’s Premier class. When I googled equi-vest, it says it's a variable annuity plan! Fortunately for 403b investors, the average 403b plan has fees and expenses of only 2.25%! The 403(b) is a retirement plan offered by public schools and certain tax-exempt organizations. Vanguard direct does not use their Admiral class funds, only their Investor class, while Fidelity does use their Premier class index funds. There are contract limitations, fees and charges associated with variable deferred annuities, which include, but are not limited to, mortality and expense risk charges, withdrawal charges and administrative fees. But there are a few differences. There will also be district HR and TPA forms to take care of. by harpgirl555 » Mon Sep 17, 2018 8:21 pm, Post I didn't invest in annuities in that plan just funds that mirror the SP500 and international stocks, so you're saying I won't be charged a transfer fee? by runner9 » Sat Feb 11, 2017 12:47 pm, Post 11. If you want to go for the lowest fees, you should choose the individual index funds rather than the Target Retirement funds. Hopefully there will be a low-cost vendor you can use. by tchasteen » Mon Feb 13, 2017 7:17 am, Post I've written before about the crappy AXA 403b I have access to. I was signed up with AXA at a school professional development meeting. by krow36 » Fri Oct 18, 2019 1:19 pm, Post Then I would contact Fidelity for the forms to establish a 403b account with them. Can you post the list? Mine is a series 200. I have a Axa 403B I would like to track in quicken. ... All 403(b) products contain fees.   You cannot paste images directly. AXA Equitable Life Insurance Company offers several types of annuities through a national network of agents and financial advisors. On top of the expenses for the underlying funds, there is a .15% administrative fee, and a yearly fee of $40 I believe. Yet, over 50% of teachers are using them to save for retirement. That’s basically every other em… A slight increase in fees can substantially reduce the growth in your account which will reduce your income in … You can transfer your AXA 403b 10k balance into another vendor’s plan. The problem is I've been looking for AXA's fees for the last hour and can't find any comprehensive information on management fees. Go to Facebook » 403 b wise in the Media. I have a Axa 403B I would like to track in quicken. As far as investment-specific fees go, the company states that investments in your Protected Benefit Account come with expenses that range from 0.98% to 2.46%. ), you will see that the AXA annuity sub account’s return is at least 1.8% lower than that of Fidelity or Vanguard. In addition to the fund fees, for a variable annuity there is a Mortality and expense risk charge. The 800 number is more likely to give you complete information on the fees you are paying.   Your previous content has been restored. by Duckie » Fri Feb 10, 2017 8:42 pm, Post So i think Fidelity still comes out slightly ahead of the other two 403b options. GE69880(9/12) Cat. He finally told me that he gets 5% of every dollar I invest, plus the cost of the funds. That will take some time to get set up. by krow36 » Sun Oct 20, 2019 11:28 pm, Post It is similar to other retirement plans and is available to certain employees of public schools, tax-exempt organizations and ministers. What you may find with plans from Vanguard or Fidelity is an expectation that the district will cover some of the plan-related expenses. Their ability to offer annuities as part of their plan is a selling point. Post I have that with AXA. Some people have suggested Fidelity as an option instead. by KESP » Fri Feb 10, 2017 12:13 pm, Post The name should tell you whether it is an annuity-based plan, or a mutual fund based plan. My adviser did not want to give me that information until I got tough with him. by merdock69 » Sun Oct 20, 2019 10:03 pm, Post Ariel, welcome to the forum! These are 403(b)(7) plans and don’t have M&E fees. You start employment at a new district and fill out payroll forms to start a new 403(b) with AXA. The amount of fees varies greatly depending on the product. Hopefully your district has other vendors on their 403b vendor list. In the meantime, you can tell your colleagues about how much lower cost Fidelity is than AXA! I then received a letter from the school district plan administrator stating that vanguard was not an approved provider and they would not support salary reductions for the account. For costs and complete details, see the prospectus or contact your financial professional. The BrightScope data reveal that total plan fees for small 403(b) plans ranged from 0.49% of assets all the way up to 1.48%. In your Investment Account, expenses range from 0.58% to 2.60%. I had AXA at one time. Powered by Invision Community, https://www.403bcompare.com/Vendors/Browse, https://docs.google.com/presentation/d/1Q4vixuuGGAVzZIF0G1EOriI_RQPuqgn_bpOmh9UrqPc/edit?fbclid=IwAR2OvqHkAGsK7BUtNOfYn7sR3vlBWek60WVm6xecfaSf6mzp7pfvMjlblPY#slide=id.p5, https://www.403bcompare.com/products/68#/fees. They recommended a portfolio with significant deficiencies. AXA 403b « previous next » Print; Pages: 1. So far I have seen a small 30 dollar fee for the whole year in my 10k 503b account. They may use funds with front-end or back-end loads but not usually 5 or 10 year surrender fees.
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