axa 403b fees

The contract also offers death benefit protection and, as discussed earlier, it offers a Personal Income Benefit for an additional cost. Another reason is an apparent obsession in the public sector with having plans that provide annuities. by krow36 » Mon Feb 13, 2017 10:12 pm, Post You lose 47% of your account value to fees! E-mail: info@warwickfa.com, © Securities offered though LPL Financial, member, Your Primary Source for Trusted Financial Guidance, An Independent Review of: The AXA EQUI-VEST® (Series 201) contract for employer-sponsored 403(b) retirement plans, AXA Equitable Life Insurance Company Variable Annuity Review, Separate Account Charges: 1.20 % (Mortality & Expense charge 0.95% + other expenses 0.25%), Underlying Portfolio Operating Expenses: 1.03% (average fund expense). Overall Fees: There are additional fees associated with variable annuities that are not found in other types of annuities or mutual funds. If I try to add Axa as a straight Brokerage account I can login, but the account is reported as "Unknown Type". In my case, the current charge is 1.15%, but it could go up to a max of 1.24%. But you remember you have a death benefit! There is no charge to move among the investment options. In fact, that’s one thing this annuity does have—a lot of choices. This creates ongoing compensation for your broker. by tchasteen » Sat Feb 11, 2017 12:00 pm, Post After retirement, you can move one or the other to a single provider but I wouldn’t worry about it now. Its benefits include providing for the accumulation of retirement savings via tax-deferred growth. by krow36 » Sat Feb 11, 2017 1:43 pm, Post . Guarantees are based on the claims paying ability of the issuing insurance company. It offers Structured Investment Options (SIO) that enables you to invest for growth with some downside protection for a set period of time. (All those extra fees with no value added!) A 403(b)(7) custodial account program provides mutual fund investment options to 403(b) plan participants. You listened and absorbed as much as you could, but there is a chance that some of the facts were not fully understood during the sales process. “A hat tip to AXA, a provider of often expensive annuities, which you can read more about in one of Tara’s 403(b) articles from last year. The prospectus and, if available, the summary prospectus contains this and other important information about the variable annuity contract and sub-accounts. You see a $45,000 drop in your total account value, and your new account balance is now $105,000. Hopefully that continues when we actually start with them. Trying to get something introduced in our district that gave people the most options and made sense financially. A 403(b) is a retirement plan provided by employers in nonprofit organizations. In this post you say you're in Ohio, if so go to. That’s basically every other em… such guarantees.”. Selling annuities also creates a continuing income stream for the brokers. Detailed information about these fees can be found by digging through the prospectus. Read prospectuses carefully before investing. How about the Guaranteed Interest Option (GIO)? Second, this benefit doesn’t come free. The internal expenses of the sub-accounts for this particular variable annuity range from 0.61% to 2.09% and average around 1.03%. I’ll be going into the details when we get to the benefits and features section. If you are interested in a more detailed analysis specific to your situation, feel free to contact me. There are situations when the withdrawal charge is waived—for example, if you are confined to a nursing home for more than 90 days—and they no longer apply after the completion of 12 contract years. There is also "other expenses" of .25%. This offers a guaranteed rate of interest and a guarantee of principal. http://www.bankrate.com/calculators/ret ... lator.aspx, https://www.ohio457.org/iApp/tcm/ohio457/index.jsp, https://www.nytimes.com/2016/10/27/your ... .html?_r=1, http://board.403bwise.com/index.php?showtopic=6375, https://us.axa.com/docs/teacher-retirement.pdf, http://board.403bwise.com/topic/6361-li ... -platform/, https://prospectus.axa-equitablefunds.c ... =NA&d=1512, https://www.vanguard.com/pdf/403binvt.pdf, $25 per participant per year for ongoing enrollment plus, $12 per year for recordkeeping ($3 per participant per quarter) plus, 0.50% charges on all assets (0.49% program & 0.01% other), EQ/Equity 500 Index (0.36 + 0.50 = 0.86%) -- Large caps, 80% of US stocks, EQ/Small Company Index (0.37 + 0.50 = 0.87%) -- Small caps, 14% of US stocks, EQ/MFS International Growth (0.98 + 0.50 = 1.48%) -- International stocks, expensive, EQ/Core Bond Index (0.46 + 0.50 = 0.96%) -- US bonds, EQ/Equity 500 Index (.58% + 1.20% = 1.78%) -- Large caps, 80% of US stocks, EQ/Small Company Index (.64% + 1.20% = 1.84%) -- Small caps, 14% of US stocks, Russell 200 Index, EQ/Common Stock Index Portfolio (.70% + 1.20% = 1.90%) -- 98% of the investable U.S. equity market, EQ/Mid Cap Index Portfolio (.72% + 1.20% = 1.92%) -- S&P MidCap 400 Index, EQ/Core Bond Index (0.67% + 1.20% = 1.87%) -- US bonds, EQ/Intermediate Government Bond Portfolio (0.64% + 1.20% = 1.84%) -- US Government Bonds, EQ/International Equity Index Portfolio (0.81% + 1.20% = 2.01%) -- International stocks, most expensive of the "lowest cost" options, EQ/Short Term Bond Portfolio (0.81% + 1.20% = 2.01%) --. $ 8,000 every year then you ’ re not familiar with variable annuities are! 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