they will no doubt have account transfer fees of $45-$60 per account
Well worth paying to get out of there. Calculate:
Total account value * Average expense ratio @ Ameriprise
minus
Total account value * Average expense ratio @ VG, TRP, Fido, etc
I think you'll see that paying that 'release fee' was the best investment you've made so far
This is a 403-b from her current job, so I will check with them and/or the Mutual Fund Co. we choose to roll it over to, to see if it can be sent there without any tax consequences.
This is called an in-service transfer. Some plans allow, some do not. Request a copy of the plan literature (the legal stuff) - it should be in there.
Rollovers are not taxable events UNLESS you touch the money - so make sure you contact your new service provider (ie VG, TRP, etc) and have them initiate the transfer. There's more to it than that, but thats basically how it works.
BTW, there are market classes that have been hit harder than the S&P 500. IMHO, the S&P is NOT a good measure for ALL domestic funds
Good point. The s&p 500 is an appropriate benchmark for large-cap core/growth funds.. thats about it.