How to Get Out of AXA/Equitable

As documented in a blog post Welcome to the Hotel AXA/Equitable you can "check out" but it is not easy. One of our most prolific 403bwise Facebook Group posters and helpers, Dan Dews, created this "How to get out of AXA/Equitable" document. He was inspired by the numerous FBG posts by people asking how to do this. 

First Things First: Stop Contributions to AXA/Equitable

1. Cease contributions to AXA/Equitable by filling out a new Salary Reduction Agreement (SRA) with your employer. 
2. Open a new account with a lower-cost vendor available through your employer. Ideally you have access to one of these companies: Aspire, CalSTRS Pension2 (California), Fidelity, TIAA, T. Rowe Price, Vanguard, or WEA Benefits (Wisconsin primarily). If you are not already a 403bwise Facebook Group, join and get help identifying a low-cost vendor. The vendor list is maintained by your district’s third party administrator (TPA). If you are stuck with only bad choices, you have several options: a) Use the 403bwise Advocacy resources to make the case for the addition of a better vendor; b) See if your employer offers a 457(b) plan which has some key advantages over the 403(b); c) Open a Roth IRA through any financial company you want. See: 403bwise Vendor Rating System
3. Start contributions to new vendor via a new SRA. 

How to Get Out of AXA, October 7, 2025    

There are 4 different way to move an AXA/Equitable 403(b) account to a new vendor's account using the same transfer-out form. 

1. Direct transfer: you move the 403b balance from a previous employer’s plan to a 403b with your current employer’s plan.
2. Contract exchange: you move a 403b balance between vendors that are both on your current employer’s 403b vendor list.
3. Direct rollover of a 403b balance to an account that is not a 403b: this could be to an IRA or to another “qualified” plan.
4. Rollover Conversion to a Roth IRA: this like 3. but converts a traditional 403b into a Roth IRA and is a taxable event.

1, 3, and 4 require that your 403(b) is with a previous employer, OR that you are age 59.5.

Using the Transfer-Out Form

1. AXA requires that you request their transfer-out form by starting in your online account. Under Manage Your Account, in Transactions, go to Withdrawals and select Third Party Transfer. You will be asked to choose either 1. or 2. If you want to do 3. or 4., choose 1. or 2. It doesn’t matter at this interview stage. For lower balances, you may be able to have the form emailed to you so you can print it. For higher balances, you will be asked to read over material that tries to dissuade you from departing. There will be no mention of their high fees. You can tell them that you have made up your mind. Repeat if necessary. Try to remain cool and professional because they have control of your money. AXA reps have told participants the form must contain a “unique identification code” generated by AXA that is only available by starting with your online account. This code sets the 90 days by which the completed form must be returned to AXA. AXA mails the form to you.
2. The receiving vendor likely requires you to complete their form for incoming transfers, exchanges and roll overs. That is the case for Fidelity, Vanguard and Aspire. Ask the new vendor for this form and complete it. You may be asked to include a recent account statement. If your new 403b vendor is Fidelity, contact one of these recommended reps for help with their form and getting Fidelity’s signature on AXA’s Section 3: donna.pair@fmr.com, hanna.torres@fmr.com,humberto.chavez@fmr.com
3. Both the new vendor and AXA need evidence that your district's Third Party Administrator (TPA) approves the contract exchange. TPAs frequently provide a Certificate of Approval for transfers that you print out. Assuming your district has a TPA, look on the district’s TPA webpage for the application for their Certificate. If they have no TPA then the business office must sign on the bottom part of Section 5B of the AXA Transfer-out form if this is a contract exchange. (The TPA from your previous district would sign on the top part of Section 5B if this is Direct Transfer or Rollover.) If this is a Contract Exchange, call the TPA and ask if they will provide the certificate. 
4. AXA issued a new edition of this form, dated 10/2024. What was 7 pages long is now 11 pages because they listed the many new products that can be involved in a PARTIAL Transfer, Exchange or Roll Over. When you have the AXA Transfer Form, fill out your parts of Sections 1, 2A and 2B. See above for explanation of the Types of Transaction of 2A. If you are doing a TOTAL Transfer, Exchange or Rollover, you have nothing to complete on pages 2 through 7. On Section 2B on page 8, AXA suggests that you check BOTH boxes if you are moving all of your account and can’t find your contract. The contract is the document you signed to establish your AXA account. 
5. Section 3. on page 8 is completed by the new vendor. it states that the new vendor must (1) check whether it is a Transfer, Contract Exchange, Rollover, or Conversion Rollover, and (2) sign at the bottom. At times, Vanguard and Fidelity have wanted to issue THEIR Certificate of Acceptance, instead of completing AXA’s Section 3. In your cover letter to the new vendor, state that they need to “check one only” and to sign in Section 3 of AXA’s transfer form. AXA requires the signature of the “certifying officer”. The new vendor may prefer to issue a Letter of Acceptance but the AXA form says that ONLY the signature on their form is acceptable. As far as we know, AXA does not give in on this requirement.
6. In Section 4 on pages 9 and 10, read the section that applies to you. Section 4D is where you sign the form and that applies to everyone using this form.
7. Your district’s Third Party Administrator (TPA) can handle their signing off on your transfer in either of 2 ways: they may issue a certificate of approval which you then include with the AXA form, OR they may sign the lower part of Section 5B. Call the TPA and find out how they handle it.
8. Section 5A is not required unless your district’s 403b plan is an ERISA plan. Most K-12 district plans are not governed by ERISA. Check with your TPA to confirm that your employer’s plan is not an ERISA plan. Some vendors have required this if you are in a community property state.
9. The UPPER part of Section 5B is for a former employer to sign if the 403b is from a previous employer’s plan, moving to a current employer’s plan, or to a rollover IRA. The LOWER part of Section 5B is for your current district’s TPA to sign for a Contract Exchange. (Your TPA may issue their own certificate rather than sign AXA’s form, which is acceptable to AXA.) No signature needed in the lower part of 5B if you are rolling an AXA 403b account to an IRA.
10. In summary, if you are doing the usual Contract Exchange between AXA and another vendor on your employer’s 403b vendor list, you need to complete Sections 1, 2A, 2b, 4A (read only) and 4D. Get your current district’s TPA certificate of approval if they use a TPA. (If they don’t use a TPA, they must complete the lower part of Section 5B of AXA’s form. Send them AXA’s form to sign and have them return it to you.) Send the TPA certificate and the new vendor’s transfer-in form and AXA’s transfer-out form to the new vendor. After completing Section 3, the new vendor will send their transfer-in form, the AXA transfer-out form and the TPA form (if provided) to AXA for processing. Faxing is the best way to send forms. It’s a good idea to keep a copy of the forms you send. After sending forms, check that they have been received and that they are satisfactory.
11. It can take several weeks for your money to show up in your new 403b account. If a check is lost in the mail, it will have to be resent, so keep checking. The 403bwise Facebook Group is a great place to ask questions about this process. Good Luck!

Video: Transfer AXA Equitable 403(b)

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