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One of the selling points of annuities is that they are tax diferred. However, insurance companies sell annuities within tax diferred retirement accounts such as 401k, 403b, IRAs, etc.. Although they are stated as offering added value, they are added profits for these companies.

How can I get out of this annuity based 403b, because they carry a surrender charge. Being new to this, I did not know about annuity, and the surrender charge was not explained to me. I am a teacher, and the 403b investment is returning about 7% annually, well below the Index 500. The school system where I teach offer only Mutual Funds based investment for our 403b. Any suggestions?


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