That will just pay him another commission, and start a new surrender period for you. There is no new feature or bell and whistle that could possibly justify the exchange. No Load, No Surrender Fees, Low expenses. Use in Qualified Plans and IRA s Simply put, there is no justification for using an annuity inside any qualified plan. The qualified plan itself provides the tax advantages and deferral.
Annuities provide only additional costs and a drag on performance.
The good news is that because you can roll your contract into another qualified plan or IRA, you won t be faced with a tax or penalty. Many fund families including TIAA-CREF and Vanguard have qualifying plans. What these companies don t have is an army of commission crazed sales people patrolling the halls of the local schools. Ask your administration for a complete list of approved providers and then go with the mutual fund family with the lowest charges. Summary I ve tried to keep myself in check.