If you work in the educational, health, or non-profit area-your employer may offer a 403b plan.   It's important to look at all the investment choices your 403b plan provides.  Many of these plans offer annuities. 

These "tax-sheltered annuities" (TSA) have higher fees and may not be ideal investment choices inside the 403b plan.  Often, you'll payer higher insurance fees for this investment and may have surrender charges if you try to make changes.  Make sure to look at other options in your plan-especially no-load mutual funds.

Lynn O'Shaughnessy's recent article provides some great suggestions and resources on 403b plans.

Currently, teachers, who are saddled with mediocre 403(b) choices can typically move their cash to a 403(b) provider that isn't in a school district's lineup. Suppose, for instance, that a district offers a dozen 403(b) providers, but these firms only market annuities. Today, many teachers can move the money in their 403(b) accounts, through something called a 90-24 transfer, to one of the low-cost mutual fund companies that I mentioned earlier. These transfers won't be allowed in the future.