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Check with your district to see exactly what types of plans they offer. A 403b invests in annuties, while a 403b(7) invests in mutual funds. Look into the possibility of going with Vanguard, which will enable you to bypass the salespeople on your school districts's approved vendor list. I would start by contacting your business office to see if they will allow you to set-up your account with Vanguard. You also need to look at the surrender charge involved with your annuity. Most annuities require you to forfeit a percentage of your money if you break the annuity contract and roll your money into another plan.

TMFPixy's post # 11725 on this board provides a great overview of annuities. I highly recommend that you print and save this particular post.

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