403b vs Roth IRA

[teachurkids]

I have been paying into a 403b through my school district and have about $35,000 accumulated in it. I just got a letter from my district stating that because of the new IRS regulations some of the investment providers they have been working with are unable or unwilling to meet the heightened requirements. My investment provider, Allianz Life, happens to be one of those that they dropped. My account will sit with them (Allianz Life) and draw interest until I am 59 1/2 because I don't want to pay penalties to move it. I'm just turning 50 this year. This is the second time this has happened to me as I had another 403b started years ago and that one has about $11,000 in it. I can't make contributions to these accounts personally, I have already checked. My question is should I now try for the third time to get a 403b going using the list of investment providers my district has provided for me or would I be better off striking out on my own and say set up a Roth IRA with maybe Vanquard and just make my own personal contributions to it? I'm so confused. Thanks for any help or suggestions anyone out there has for me.

[jIM_Ohio]

Not enough info to provide good, specific advice.

Questions which immediately came to mind:
1) You have 35k with Allianz- is this money going into a rollover or stating in 403b plan?
2) Your are 50 and are retiring when?
3) your gross income, AGI and taxable income for 2007 were what?
4) Do you file taxes as married, single or another filing status?
5) You have 46k invested for retirement. Any pensions, or other retirement income sources?

Here is the basic advice I can give you. Only look at the Roth IF your taxable income was less than $65100 for 2007. $65100 is cap of 15% tax bracket (married filing jointly). If you are taxed on $65101 or more, the 403b tax deduction is probably better than the tax free Roth withdraws. If you have a pension or other income source, this advice would change, so disclose your retirement plan and retirement needs to get good specific advice.

[teachurkids]

More info towards retirement

Thank you for responding. I quess I did leave out a few things. Maybe this will help;
1. the money will be statying in the 403b account till I am at least 59 1/2.
2. hopefully at 60.
3. taxable income was about $70,000.
4. filed as married.
5. $100,600 in state teachers retirement system
$15,000 in husband's Roth IRA so far
and whatever Social Security he can draw when he retires.