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Greetings, THLeeds, and welcome. You asked:

<<I am 57 and plan to retire in June 2000. My (403b) account is in a variable annuity with VALIC. Can I transfer the cash funds in the annuity directly into my Schwab IRA without incurring Federal taxes? I realize there may be some fees from VALIC, but I'm more concerned about retaining the tax deferred status. >>

Yes, you may transfer the net proceeds to an IRA after you surrender the annuity and thereby avoid any taxation problem.

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