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What's The Best Option To Avoid Hefty Fees, Etc.?

403b fees ny new york plan

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#1 KER

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Posted 16 July 2017 - 08:50 AM

I recently got a job in a new district and was looking up my options for my 403b.  I had PlanMember in my previous district, which wasn't too bad and I was able to choose some Vanguard mutual funds.  Below are the options for my new district.  Are there any recommendations?  Through some initial research it seems maybe the Aspire or Legend Group may be best.  I live in NY State.


Aspire Financial Services  
AXA Equitable Life Insurance Company  
Mass Mutual VA  
NY Life Ins. & Annuity Corp.  

Oppenheimer Shareholder Svcs.  
RiverSource Life Insurance Co of NY            

 The Legend Group/ADSERV  
Voya Financial (Natl NY)


Thanks for your help!

#2 tony

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Posted 16 July 2017 - 12:07 PM


Welcome to the site.


Aspire would work. You self direct the account and tap into low cost Fidelity or Vanguard index funds. Don't go through an advisor or a good deal with Aspire will turn into a bad one. Self directing is easy. Call Aspire and they will tell you how to go about it. Don't know if The Legend would work as I am not familiar with them.


You have a horrible list of choices overall



#3 EdLaFave

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Posted 16 July 2017 - 10:21 PM

I know some of these vendors. Some of the vendors that I don't know have names like "NY Life Ins. & Annuity Corp" that lead me to believe they're awful.


Given that I don't have all of the information available to me, I'd second everything Tony has said. At least here in OCPS (Fl), PlanMember Direct is about 2x as expensive as Aspire, so congrats on the improvement!


I researched the 5 best vendors in Florida and posted the results here, Aspire was in the top 5. The page I linked to has a summary of fees, the funds I personally would have selected, and links to the source material I used to write the summary. Perhaps this will be a good starting point for you, good luck!

Navigate and reform OCPS' 403b and 457b.

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