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Franke asks:

<<I have two annuities. One says "Flexible Annuity, IRA" and the other says "Flexible Annuity, TSA" on the report the company sends me. Can I roll both of them over into a self directed account at Scottrade or Discover (the two that I have narrowed it to)?
Is there any difficulty in one being IRA and the other TSA?
I asked my "advisor" if they could be transferred to a mmarket account with him and he said he could do that. Would it be better to have him do that first and then transfer to another company?>>

You may definitely surrender the annuity in the IRA and transfer the net funds from the surrender to another IRA. As PeppermintPatty mentioned, though, you must check the fees that will be imposed by the insurance company for doing so. Many annuities impose onerous surrender fees that can last for a number of years from the date of purchase. Those fees may be so great that's it's better to keep the annuity until the surrender period runs out. You need to verify what would happen in your case.

As far as the TSA is concerned, that is more problematic. You almost certainly obtained that as part of an employer-provided retirement plan, probably a 403b plan. Depending on the terms of that annuity and whether you are still working for that employer, you might be able to surrender that annuity and transfer the net proceeds to an IRA as well. If you're still working for the employer who sponsored that plan, then almost certainly you cannot do so. You need to check the specifics of the plan to see what you may do with the TSA.

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