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krow36

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About krow36

  1. Which 403(B) Is Best?

    Here’s the Alabama Education Association (AEA), website: http://www.myaea.org/benefits/financial-benefits/ Under Retirement, I see the following: NEA® Retirement Program – “Participate in the NEA® Retirement Program, a supplementary retirement savings program specifically designed to help NEA members reach retirement goals.” This program uses Security Benefit, not Nationwide. https://www.neamb.com/finance/nea-retirement-program.htm NEA used to have 403b plans with Nationwide, but Nationwide sold their NEA Valuebuilder accounts to Security Benefit (SB) in 2000 for $72M. SB is an insurance company that sells mostly very expensive annuity-based 403b plans. SB pays NEA about $2M a year for the privilege of attaching the NEA logo to their plans, aimed at the K-12 market. As Ed has mentioned, Security Benefit now offers an NEA Direct Invest with very low-cost Vanguard funds. This is an internet based 403b which bypasses the local reps. This is the only SB 403b plan that any of us here at 403bwise would recommend. It’s a mystery why your HR office refers to a Nationwide AEA 403b?The AEA website links to the Security Benefit and then to the NEA Direct Invest plan. This would be an excellent 403b plan to hold your $6,000 and to contribute to when you can. I suggest you contact the HR office and explain that the AEA is a branch of the NEA and you should be able to use a Security Benefit 403b.
  2. Tiaa Ny Times Article

    Another NY Times article on TIAA, published Nov 14, this one by Tara. https://www.nytimes.com/2017/11/13/your-money/tiaa-403b.html?rref=collection%2Fsectioncollection%2Fyour-money&action=click&contentCollection=your-money&region=&module=stream_unit&version=latest&contentPlacement=1&pgtype=sectionfront&_r=0
  3. Forum Upgrade

    OOPS, I see that to make any corrections to the "preview", you have to close it and go back to the original, where all editing tools are available. Makes sense.
  4. Tiaa Ny Times Article

    Here's a followup NYTimes article on TIAA's problems, published today Nov 9. The NY State Attorney General is now getting involved, in addition to the feds. https://www.nytimes.com/2017/11/09/business/tiaa-subpoena.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=second-column-region&region=top-news&WT.nav=top-news&_r=0
  5. Ava, welcome to the forum! Congratulations on listening to the podcasts and learning! Because you are transferring your AXA and VOYA 403b accounts to Vanguard, you will have a 403b with Vanguard, whether you contribute further to it or not. You probably realize that you can only contribute $5,500 per year to an IRA account. You can make a contribution for 2017 up through your tax due date in 2018. You can set up an IRA over the internet, connect it to your bank account and fund it online. Vanguard's Target Date funds have a minimum starting balance of $1000 and index funds have a minimum of $3000 starting balance. I would start with IRA because there are no annual fees on it other than the expense ratio of each fund. Hopefully you can afford to contribute more than 5.5k to retirement so then you should use the 403b in addition to funding the IRA. You'll get lots of from folks here if you ask questions!
  6. Forum Upgrade

    Dan, how about a link from the forum page to the home page? I think there used to be one? Also the strike-through was missing from the edit feature. Isn't that where it's most useful?
  7. Tiaa Ny Times Article

    Here’s TIAA’s response to the NY Times article, as well as Scott’s response to TIAA’s response. http://teachersadvocate.blogspot.com Here’s Tony Isola’s take on TIAA. http://tonyisola.com/2017/11/tiaa-youre-no-vanguard/
  8. Guaranteed Interest account AXA

    I suspect that AXA can say "the guaranteed interest account has no fees" and mean that there are no fees that apply to that account uniquely as an expense ratio. However your contract seems to say that there is an annual administration charge that applies to the account. Do you know what it is? On the Equivest 201, it's $30/year.
  9. Guaranteed Interest account AXA

    In their podcast #48, Scott and Dan discuss moving some of Dan’s fixed income from Vanguard to a TIAA Traditional annuity. http://directory.libsyn.com/shows/view/id/teachandretirerich It’s at about 12:16 to 14:40. Maybe Scott and/or Dan will join in and offer their thoughts on using a fixed account giving out 3% with the despised AXA? Relying on AXA to be solvent and pay out your money in a big downturn would make me nervous. I had a large part of my 403b with VALIC for way too many years (10?), considering it a part of my fixed income. I suspect I would have been better off in a low-cost bond index fund. Yes there would have been ups and downs with a bond fund, but over the long term, I think it would have worked out just fine. VALIC was bought by AIG which had to be bailed out by the government in 2008 recession. I see you've posted that you would pull it out when you retire in about 4 yrs. Maybe staying short-term makes sense, I don't know. But it's AXA!!?? Would you move money from a Vanguard TBM fund to the AXA guaranteed 3% annuity?
  10. Guaranteed Interest account AXA

    rhyme, good point! I should have used "expense ratio" rather than "annual fee".
  11. Guaranteed Interest account AXA

    What is the name of your AXA 403b plan? The 403bcompare tool has a AXA Equi-vest 201 that has a "Guaranteed Investment Option". It has a “minimum rate of return” of 1.00% and the interest rate as of Jan 1, 2016 is 1.50%. It doesn't state the 2017 rate.? These options, often called Fixed accounts, or Stable Value funds incorporate the annual (expense ratio) fee into the rate of return. Your AXA plan must tell you what the minimum and the current rate of return is. The current rate is reset each year. I would rather keep the fixed income part of my portfolio in a diversified index bond fund. Others (Steve, ScottyD) prefer a fixed account as long as it has a rate of return of around 3%. Maybe for only part of their fixed income?
  12. Forum Upgrade

    Congratulations to Dan on the excellent forum upgrade! The old forum didn't seem to allow a search of members' older posts, just a few recent ones. Now they all seem to be accessible. Very handy sometimes. I'm not sure about the "Drag files here to attach, or choose files" means? Or "Insert other media"? Guess I should play around. I've always used copy and paste.
  13. 457B State Plans for K-12 employees

    Adding Alabama to the list. There are 3 investment options: stock (S&P 500), bonds and very short-term bonds. DCP: http://www.rsa-al.gov/uploads/files/RSA-1_Member_Handbook_bookmarked.pdf http://www.aasbo.com/uploads/7/4/4/7/74479591/kit_gallup_aasbo.pdf http://www.rsa-al.gov/index.php/members/rsa-1/rate-of-return/ http://www.rsa-al.gov/index.php/members/rsa-1/historical-returns/
  14. Which 403(B) Is Best?

    Can you provide a link to the "Nationwide (offered through AEA)" 403b offering? Sometimes insurance companies offer mutual fund options as well as annuities options. And sometimes the teacher unions are involved in a low-cost 403b plan (NJ and CA come to mind). It's worth checking out as a possibility. What does the email mean: "We do have some slots for a Plan 457". . .? Are there providers on the 457 list? If so who? Are the "slots" actually openings where another provider can be added?
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