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Found 20 results

  1. Hi All, My district is in the process of approving the following companies for our 403b plans: -TIAA -Fidelity -NEA (Security Benefit) Our third party administrator will be with Omni (also new to our district) I would like to get your feedback from anyone who has experience with any of these companies. I would only consider Direct-Invest if I was to go with Security Benefit. We currently have the following providers: Ameriprise AXA Lincoln Financial. So, I would like to think the new providers will be a much better option for us. Thank you!
  2. Aspire?

    I received clarification from our third party administrator, OMNI, that Aspire will be offered to us and not Fidelity directly (which is what we were originally told). Within Aspire, we'll have hundreds of options to select from including Fidelity, Vanguard, etc. Omni provided me with their fees: Fees charged to participants by Aspire: Annual Account Maintenance fee - $40 Custodian and Administration Fee – 0.15% of the value of the Account These fees will be assessed on a monthly billing cycle and will be assessed, pro rata from the assets in the Account. Therefore, our new choices will be TIAA, Security Benefits (NEA Direct Invest) and Aspire. This is a major improvement from what is currently available: AXA, Ameriprise and Lincoln Investments. Any feedback on Aspire would be greatly appreciated.
  3. A little background... I've worked in my district since September 2016. Before that, I was working in another neighboring district in New York. I also worked in New Jersey for about 3 years, another school in NY for about a year and a half, and Connecticut for a year. I'm 31 years old and have been a school counselor since I was 22.... crazy how the years have flown by without much knowledge of 403b's and retirement accounts. I completely fell into all the traps mentioned in the podcasts. I fell for opening up an AXA 403b account at the age of 22, thinking I was being smart for starting my retirement so early. When I started at another school and considered contributing again, I realized my growth was minimal with AXA. Before opening up another 403b account with another company (I was considering Voya at the time), I inquired with AXA about transferring my funds. It was at this point I realized that something wasn't right. Trying to be more savvy, I asked the Voya "advisor" many questions before opening an account with them. I was told I wouldn't be locked into a surrender charge as long as I didn't put any money into guaranteed accounts. So that's what I did. Fast forward to today, I got very lucky that my district has done the hard work for me. They offer a ROTH 403b with Fidelity and Vanguard 403b. Learning from the podcast, I created a ROTH Fidelity account. I am in the process of transferring my AXA and Voya accounts into Vanguard, but I'm not sure if I should open up a Vanguard 403b or IRA account? Part of me feels like I should open up the 403b account so that I have it with the school just in case anything changes, but another colleague suggested I do a Vanguard IRA account so that my money is more flexible. Does anyone have advice on this? Thanks so much in advance!
  4. What To Do About Vangurd?

    Hi everyone, I haven't posted in awhile, but I knew just where to go for advice! (I'll be back more frequently going forward) I received the letter from Vanguard regarding my 403b account, as has recently been discussed on here. I'm just not sure what to do about it, and I could really use some advice. OMNI charges me $3/month to use Vanguard, and Vanguard charges me $15/year to invest in a Target Date Fund. I decided $51/year in fees (on top of expense ratios) was worth it for the privilege of having access to Vanguard, since most of the offerings from my district are not as good. I imagine the OMNI fees won't be going away, so the partnership with Newport looks like it will raise my fees from $51/year to $96/year. I only started investing last year, and I only have $2100 in my Target Date Fund. It looks like this fund does not have access to Admiral funds, so if I stay with Vanguard I will need to exchange these for something else to take advantage of the switch to Newport. It feels a little foolish to stay with Vanguard, however, since a much larger portion of my gains will be consumed by fees. But, given that it is a 403b, taking the money out before retirement seems like a no-go. Are my first year's contributions simply held hostage now? Here are my options, as I see them. I have no idea what to do next, and I would love some guidance: 1) Keep the status quo, pay more in fees. 2) Stay with Vanguard, but switch into something that has admiral class shares. I don't want to use a managed fund. Higher fees remain, but hopefully I will pay less in expense ratios that will make this more advantageous. That said, my small balance means this will be marginal at best, right? 3) Treat this as a hostage situation, and we all know that the US doesn't negotiate with terrorists. I would leave my money in Vanguard, stop contributions, and open an account with someone else to begin contributing to. The decent options that I have access to are Aspire (403b and Roth), T Rowe Price, and TIAA. 4) Stop all retirement contributions, try and save $3,000 and open an IRA sometime next year. 5) Another genius idea that only the folks at 403bwise would think of. You guys rock. The fourth option I like because, ideally, I would like my savings to not be taxed when I withdraw in retirement. But I don't have $3,000 saved, and I am not optimistic about my ability to save it on my own. Medical bills seem to be frequent things nowadays in my household, and there will always be something important that I will need to put my savings into. Having my district take the money out before I can get my hands on it has worked well so far. The ROTH Aspire is an attractive option for these reasons, but I have access to lower-fee options than Aspire so it is difficult to go with them. I would LOVE any advice. I am feeling stuck. Erich
  5. Background My wife's employer has chosen to move to another financial company for employee 403b account management, basically giving Voya the boot. Over the course of the following year, we were barraged with what Voya accounts could and couldn't be moved to her new 403b provider. We have (2) accounts that were not eligible to be moved. Issue - Missing Quarterly Payment After calling Voya to inquire about the missing payment notice, my wife was told our home mailing address had been marked undeliverable and that the quarterly payment was not mailed because of this. Also, all mailing to our address has been stopped. During the entire 1st quarter of this year speaking with Voya, never was our address verified or were we informed that in hard been marked as undeliverable. We have mail from Voya from February for the rollover information. I don't understand why only SOME of the mail was undeliverable. Lesson Learned After a few calls with the help desk at Voya, we were finally escalated far enough up the chain to have the following information revealed by Voya. It is not Voya's problem if you fail to receive their mailings and they assume that the customer will call (eventually) and validate their current mailing address. You should not assume that you will be contacted in any other way than your mailing address with Voya. Voya will NEVER call, email, send smoke signals, nadda. zilch... I was told by many CSAs that Voya does not have the resources to currently entertain these avenues and that their customers will eventually call. Do not expect common courtesy on Voya's behalf like Visa, Mastercard, or Comcast for a missed payment or reaching out to contact you using another method than your mailing address. A single missed payment results in a defaulted loan and there is no recourse. Voya's Flawed Logic So, I just ran down this logic path that Voya uses with a few CSAs at Voya... Q. What happened to my mail? 1. Mailing Address is marked undeliverable in Voya’s system, all mail stops. 2. Grace Period Letter is not mailed, since the mailing address is undeliverable. 3. Default Notice Letter is not mailed, since the mailing address is undeliverable. 4. 1099R ??? hopefully mailed, but probably not - since the mailing address is undeliverable. A. Don’t have anything to do with Voya! Take Away Voya doesn't care about you. Don't expect the local account rep. to help. There is nothing record or noted in Voya's System that would indicate why YOUR mail was marked undeliverable. Side note, I was also told by one CSA that they could not process the shear amount of mail that Voya receives on a daily basis. So, I don't understand how our mailing address was ever marked undeliverable. What told them that our mailing address was undeliverable? I hope that this info finds its way to folks that were affected by any of the current natural disasters. It is up to YOU, the customer, to ensure that Voya can always mail you. Do yourself a favor and investment your hard-earned money with someone that cares about you.
  6. I Moved Money Out of Vanguard by Dan Otter
  7. Aloha folks! So I learned a new term today... Thanks to this forum and the kind folks here, I started my journey toward fiscal responsibility and found out about my state's 457 "deferred compensation" program and a better 403b option with lower fees and better investment options. I got the 403b new account open and redirected my pre-tax savings into it. Now that that's squared away, I'm finally getting the exchange paperwork done. When I requested the paperwork and the account numbers, the advisor that set up the original 403b contract has suggested the use of a "free corridor" to avoid surrender fees. When I looked up the term, it seems as though surrender fees can vary from contract to contract... some fees drop off completely after a certain amount of time, and some reduce by steps year after year depending on a certain amount of time. Near as I can tell, my contract with AXA specifies that the surrender fee won't fall off until after year 7, and I'm only in year 4. From other internet reading, for some contracts, surrender fees are applied to the date of the monies being deposited , not necessarily the date of the contract start.... so "free corridor" is the money that can be transferred without surrender fees, which can be done in incrementally. The way I look at it now, my surrender fees are high, but not as bad as leaving the money in the account.... where I'd be accumulating an annual fee, expense ratios, and a quarterly penalty for an account under $XX,000. Haha... so my answer to my own question is... it's not worth it for me according to the math. So now, near as I can tell, I have all the information and paperwork that each provider and my state's TPA requires to get this done. Whew!
  8. I have been unable to find a definitive answer to my question about mid year rollovers and 72t distributions. I hope someone can help. Both my wife and I (both will be 55 when retiring) plan on retiring and rolling our 403B monies into IRA's. We plan to roll the 403B's into multiple IRA's so as to add to our flexibility. We plan on withdrawing from the IRA's using 72(t) provisions starting as soon as possible. The rollovers will occur in January and February. What amount do we use to calculate the withdrawal amount since there will be no balance in the IRA's on Dec. 31 of the previous year? I would guess if I were to rollover the 403B monies into one IRA for each of us then I could use the Dec. 31 value of the 403B account. But I would like the flexibility of being able to fall back on a lesser RMD amount if circumstances warrant. That is why I would like to break the 403B monies into smaller IRA accounts. Thanks for your time and consideration.
  9. Well.. my account is set up! Thank you for all the help! I applied through the online sign up, and after the docusign confirmation of "application signed" email I waited... and waited. I guess I was expecting a "welcome, your plan is active, call or come register online" type of notification once the application was approved, but that did not happen. My employer requires us to have an active account prior to submitting a salary reduction agreement. So... 2 weeks after submitting the online application, I emailed customer service. A few days later, while I was at work, (public schools are back in session in HI) someone from security benefit called and left a message to call back. Now, a week later, I finally was able to carve out time to call back within the time zone differences and the representative I spoke to confirmed my account was active and helped me register for my online account. I haven't finished poking around the site, but it seems fairly user-friendly. Now I have to mail/fax the SRA and still have to fill out my paperwork to move my money from AXA to Security Benefit, but at least I'm on the right track. Mahalo! I am grateful for this forum and its posters.
  10. 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 MetLife 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!
  11. 403B To Roth?

    Hi everyone, I haven't posted in a while (though you can consider me inspired by tony's encouragement earlier this week...). My question has to do with whether or not to consider a ROTH 403b. My wife and I just began our 403b contributions back in September, and we both plan to work at least another 21 years in public education (when I'll have 30 years in the NH Retirement System and she will have 26 or so). Not a lot of money in these accounts yet (about 2k in each). My wife's 403b is with ASPIRE, and her district matches up to 3% (unheard of, I know!). I have a 403b with Vanguard currently. I was just looking over the OMNI options for my district this morning, and noticed several ROTH 403b options (one of which is ASPIRE, who offers a ROTH 403b and a ROTH 457). I hadn't considered this back in the fall, mostly because I didn't understand ROTH very well. Now it has me thinking. When we retire, the money we take out of her 403b will be taxed. Would it be best for me to stick with my current arrangement, or go the ROTH route? ASPIRE's fees are higher than Vanguard (though I do currently pay OMNI $3/month just to use Vanguard...), but is it possible that having untaxed withdrawals later in life would actually save us money? Is it even possible to move from a 403b into a ROTH 403b (or 457 for that matter)? I don't necessarily feel the need to switch (it's not like I am locked into a predatory AXA plan or anything), but - if it would be smart to do so - switching sooner rather than later would be ideal. Thanks for any help you can offer! -Erich
  12. My wife and I are both teachers in Maryland. Our only option for 403b investment is Lincoln Financial Group (www.lfg.com). The annual fee has been 0.43%, but we were recently informed that it will be reduced to 0.31%. I am currently enrolled in the “Aggressive” model portfolio because I have at least 20 more years before retirement, and I plan to switch to “Moderate” and “Conservative” model down the road. But, I do have the option of switching to a Morningstar advisor managed portfolio. My current portfolio balance is: · AM Fds EuroPacific Growth 24.00% · Vanguard 500 Index Admiral Shares 13.00% · Blackrock EQ Dividend I 11.00% · JPM Small Cap Equity 10.00% · Jhn Hnk Disciplined Val Mid Cap Fund R6 9.00% · MFS International New Discovery R6 8.00% · Vanguard Total Bond Market Index 6.00% · Other 19.00% In four years, I have contributed $11K, my current balance is $14.5K, and I have paid $95 in fees and expenses. I think we have a good 403b program, but I want to get some input. Should we stick to the plan, or see if I can get access to other options (TIAA-CREF, etc.)? Would it be wise to switch to the Morninstar portfolio? (I am not sure what the investment mix looks like) We currently put half of our contributions into a standard 403b and half into Roth 403b. Should we consider contributing more heavily to one or the other? We both participate in Social Security and have a state pension plan. We also have access to 401a and 457b plans. Thank you, Joe
  13. Hello Everyone! This is my first time posting and I am hoping I can get some advice and expertise. I am starting a job in a new school district in Illinois and am dismayed that my options for 403b are not ideal. I was hoping for Vanguard, Fidelity or TIAA-Creff based on a lot of posts seeming to say these are good low fee options. Here are my choices, could you all please help recommend a best possible option between these? Do one or two stand out as definitely good choices? Any stand out as ones to for sure avoid? Thanks! Here are my options: Ameriprise Financial AXA Equitable Great American Life Insurance Company Lincoln Investment Planning MetLife Thriven Financial for Lutherans VALIC Financial Advisers Thoughts? Steve
  14. Good afternoon, I recently stumbled across the "Teach and Retire Rich" podcast and the NYT article on 403B accounts, which lead to me to this website and what seems like a wonderful and helpful community of people. I also became a father in June, which has made me want to take stock of my family's overall finances a bit more with a unified plan. I am not sure if this is the appropriate forum for my questions, but any advice, guidance, or tips would be greatly appreciated, as I get the sense from the podcast that many educators are grappling with the same issues. Like so many others on here have likely experienced, when I started teaching nine years ago at age 21, I signed up for a 403b account through a representative who showed up at my school without really understanding fees or the long-term financial implications; I heard retirement savings and thought it sounded responsible, so I just did it. In going back and assessing it now, I am hoping for help with 3 questions: 1) If I want to get out of the annuity products / company I am with, what is the best way to do so? I am currently signed up for the MetLife Financial Freedom Select, with a large portion of each contribution going toward a fixed income account. There is currently about $22,000 in the account, and I am not sure what the tax / fee penalties would be to switching a different provider and away from an annuity structure. My wife works for a hospital system and also has a 403b with an employer match, so we max that out; my plan is a supplement to that plan. I also am part of the NJ state pension system at the Tier 2 level. 2) Of the list of providers my school contracts with, does anyone have experience with them or recommendations as to which are best / low fee? Here is the list provided by my payroll department: 403(b) Company Name VALIC AXA Equitable Lincoln Life Met Life Security Benefit Lincoln Investment Planning USAA 403(b)(7) Company Name Aspire 403(b) (formerly 403 ASP) Security Benefit/NEA Valuebuilder AXA Equitable/Pen Serve Lincoln Investment Planning 457(b) Company Name AXA Equitable 3) Is it a good idea to pay for the advice / services of a NAPFA fiduciary in my area? I like researching things myself; however, I feel it may be wise to pay a professional for an initial assessment as I change 403b's and look into setting up a college fund for my daughter and potentially a Roth account. Does anyone have any experience using a CFP as a fiduciary or a recommendation of a good one in the central NJ area? I know there is a lot of information in here, but I am feeling a bit overwhelmed and this seemed like a helpful forum, so I figured it was worth a s. Thank you to anyone who takes the time to read / respond. - Nick
  15. [The information below is in reference to 403B plans with a school district] I have an advisor who recommends products with LSW (Life Insurance Company of the Southwest). They have varying types of products but the advisor has presented the advantages of 403B accounts with indexed annuities. The annuities also have a rider/lifetime income component called a GLIR. Life Insurance Company of the Southwest (LSW) offers an excellent savings and retirement income solution for employees of non-profit organizations. Our Guaranteed 1 Lifetime Income Rider for 403(b) and 457(b) flexible annuities can provide the annuitant with a Guaranteed Withdrawal Payment from his or her annuity that will last a lifetime…income that cannot be outlived! Can someone explain more why people say "don't go with insurance companies" and "ALWAYS stay away from insurance companies." Is there no good option that you can choose through an insurance company/annuity like National Life Group/LSW? Also, the advisor said that the fees are low with indexed accounts, would that be something I would look for? I always see names like Vanguard and Fidelity but why aren't insurance companies a good choice? According to this bar graph, it seems index funds with low fees can provide some advantageous growth. THANKS FOR YOUR RESPONSES AND HAVE A GREAT DAY!
  16. Hello everyone. I just recently found out about this Supplemental Annuity Collective Trust (SACT) that New Jersey offers. I wanted to start a discussion on this SACT. I am in the early stages of my research. I will share everything I have learned thus far. I am hoping some other people from New Jersey have experience or advice, or if anyone else has ever researched it or is interested in looking through the information. My ultimate goal is to see if it's worth investing in. Information is very limited online about the SACT and trying to track down the stocks they invest in is tough. Eligibility: Employees who are actively contributing members of one of the following state-administered retirement systems are eligible to participate in SACT Regular. Judicial Retirement System (JRS) Teachers’ Pension and Annuity Fund (TPAF) Public Employees’ Retirement System (PERS) Police and Firemen’s Retirement System (PFRS) State Police Retirement System (SPRS) {The SACT plan is a 403(b)} The SACT-Regular Plan allows contributions in whole percentages beginning at 1 percent of your base salary. The maximum contribution allowable falls under the $53,000 IRCAIS limits for 2016 (includes Pension 414(h) contributions). Lump-sum contributions of $50 or more are allowed in the third month of any calendar quarter. Although your contributions to the regular plan are "after tax contributions," your accumulated earnings are deferred from federal tax until you withdraw your money. "The Supplemental Annuity Collective Trust provides a variable annuity as opposed to the fixed annuity benefits of the State administered retirement systems. The fixed annuity benefits of these systems provide a guaranteed amount regardless of economic conditions and the performance of underlying investments. However, over time, inflation will erode at least a portion of the purchasing power of these fixed benefits. By supplementing your retirement system benefits with a variable annuity from the Trust, you have the potential to increase the amount of your retirement income through the appreciation of the underlying investments of the Trust" http://www.state.nj.us/treasury/pension ... handbk.pdf ( This link gives all the basic information on the SACT) The profits they list are in Unit Values. The last year they show is 2013. http://www.state.nj.us/treasury/deferred/sact.shtml July 2013 75.3337 June 2013 72.1644 May 2013 73.3738 April 2013 71.8395 March 2013 70.7088 February 2013 68.2962 January 2013 67.6088 December 2012 64.6331 November 2012 64.4278 October 2012 64.2862 September 2012 65.7004 August 2012 64.2602 July 2012 63.1320 June 2012 62.5365 May 2012 60.2980 April 2012 64.0390 March 2012 64.5729 February 2012 63.2730 January 2012 61.5859 December 2011 59.6947 November 2011 59.1500 October 2011 58.9901 September 2011 53.6614 August 2011 57.5872 July 2011 60.9810 June 2011 62.3742 May 2011 63.5929 April 2011 64.3139 March 2011 61.2140 February 2011 61.3458 January 2011 59.5480 December 2010 58.6890 November 2010 55.9697 October 2010 56.1529 September 2010 54.7458 August 2010 51.1929 July 2010 52.8842 June 2010 50.1476 May 2010 52.6003 April 2010 56.4044 March 2010 53.8407 February 2010 51.8363 January 2010 50.4984 December 2009 51.9323 November 2009 51.1409 October 2009 48.4146 September 2009 49.2613 August 2009 47.7934 July 2009 46.9180 June 2009 44.2856 May 2009 44.8538 April 2009 43.0230 March 2009 40.9865 February 2009 38.3128 January 2009 42.4718 December 2008 45.2130 November 2008 44.1957 October 2008 47.0543 September 2008 55.6247 August 2008 60.3652 July 2008 59.4224 June 2008 59.8911 May 2008 66.1912 April 2008 65.2104 March 2008 62.1107 February 2008 63.0920 January 2008 64.3912 Now here are some links I found wrote by Joel Frank in favor of SACT http://board.403bwise.com/index.php?showtopic=5716 http://board.403bwise.com/index.php?showtopic=5410 Now it seems like all fees for this are covered by the state. But KROW36 from here on Bogleheads questions that. viewtopic.php?t=179734 "I believe that although the fees of the SACT fund are not disclosed, they exist, and are subtracted from the unreported but calculable rate of return (ROR). Every mutual fund, or portfolio of mutual funds, has expenses. The SACT fund expenses are subtracted out of its returns before they report their "unit values". KROW36 also compared the SACT "I also found the Unit Values page for the Supplemental Annuity Collective Trust (SACT) but was hoping they provide the rate of return over the years. Maybe they aren’t all that proud of their ROR? I used the unit values for December for some recent years and calculated the ROR. For a comparison I used Vanguard’s LifeStrategy Moderate Growth which uses a 60/40 asset allocation and includes International stocks and bonds. I noticed that the unit values for 2013 were incomplete and 2014 was missing. -----------SACT ROR——LSMG ROR 2012————8.27%——— 11.76% 2011————1.71———— 0.26 2010————13.01——— 13.31 2009————14.86——— 20.33 2008———— -34.13—— -26.50 2007—————0.33——— 7.36 The SACT is very opaque, and doesn’t seem to outperform a diversified index fund portfolio." "I calculated a few more years of the ROR of the SACT fund and compared it to the ROR of the Vanguard Life Strategy Moderate Growth. SACT.------SACT ROR——LSMG ROR 2012——— 8.27%—— 11.76% 2011——— 1.71——— 0.26 2010——— 13.01—— 13.31 2009——— 14.86—— 20.33 2008********* -34.13***** -26.50 2007——— 0.33—— 7.36 2006——— 11.85—— 13.31 2005——— 4.35—— 5.69 2004——— 8.21—— 10.57 2003——— 23.56—— 22.40 2002******** -27.47** -10.32 2001******** -12.04** -4.48 I would steer clear of the SACT fund 403b because of The significant outperformance over time of the Vanguard fund over the SACT 403b" now when i googled SACT NJ STOCKS i finally found their investments http://www.nasdaq.com/quotes/institutio ... -nj-820828 http://www.octafinance.com/hedge-funds/ ... ust-of-nj/ a 2014 audit: http://www.state.nj.us/treasury/pension ... act-14.pdf sorry to throw so much information out there. I tried to organize all this information the best I could and give a good presentation. I am trying to figure out if the SACT is really worth it for me to invest in. I am opening a 457(b) plan with Valic (the best sponser my company offers) but I just found out about this SACT. Thank you all for reading and any information or advice you may have on the SACT of NJ
  17. I'm a first year teacher so everything is new to me. My Dad had been mentioning that I should look into starting a 403b to suppliment my pension when I retire. I was busy enough with being a new teacher that I didn't think about it. Then one day, there were sandwhiches in the lunch room and these people asking me when I wanted to retire. They said 403b and I thought, hey I need one of those. I scheduled a meeting and met with one of their reps. They started off by showing me where my pension would be by the year I retire and how to make up the difference with the income of a 403b. They talked about how the max I can put into a 403b is 18,000 and asked if I wanted to start puting in 1,800 a paycheck. They knew I was a first year teacher yet somhow they thought I could live off whatever was left after taking 1,800 out of my montly paycheck! Crazy. I say I can commit $100 to start and then go from there. They show me the return projection and something seemed off. Then I looked at what the projected return was and it was a crap 3%. Turns out it was an anuity. After having to email and call to get the thing cancled now I am trying to plan what to do next. I have so many options that my District allows but I'm not exactly sure where to start. I have a meeting with School's first credit union as they have a mutual fund option through nationwide. The fees are pretty low but I'm still a little lost. Features Portfolio Rebalancing Managed Account Services Managed Account Services .70% Asset Based Plan Administration Fee .21% Asset Fee .04% or, .44% Participant Recordkeeping Charge Annual fee flat $4.00 There are so many funding options. Not really sure what to do. I don't know if any of you have heard of reddit but they have a personal finance subreddit and this was the advice I was given in terms of how to diversify my mutual fund. For 403(b) funds, I would use: 54% US stocks:81% DFA U.S. Large Company Portfolio 0.08% (DFUSX ) 19% Vanguard Small Capitalization Growth Index Fund Investor Shares 0.24% (VISGX) 36% Nationwide International Index Fund Class A 0.7% (GIIAX) 10% Dodge & Cox Income Fund 0.43% (DODIX) Would appreciate any feedback!
  18. I've had the great fortune of happening upon 403bwise, and after reading a lot here, I've decided to come forward and seek the wisdom of these forums My mother is a teacher at a public high school in California. She is now 60 years old. About 8 years ago, she signed a contract with Axa for their Equi-vest 403b variable deferred annuity. It very recently came to our attention that this was bad decision. I am sure most of the readers here know of Axa's exorbitant fees, dense contract, and many of the other issues that often come with variable annuities (thanks to these forums I now am one of those in the know too!). Anyway, my first question is: how much should she expect to pay in charges and fees if we decide to surrender this contract and rollover the money into a much more favorable account? If I've understood the contract correctly, there will be no withdrawal charge given that she is older than 59 and a half and had the contract at least 5 years. Are there other potential charges or issues we may not be aware of? My second question is: what option would be recommendable for a rollover? Here is a link to the list of her options: https://www.403bcompare.com/Employee/MyEmployer/EmployerDetail.aspx?eid=107682. Some of her options are Calstrs Pension2, Vanguard, and T. Rowe Price. We are leaning toward Calstrs Pension2 given that they have "Easy Choice" portfolios, which seem inexpensive and simple. Thank you for your time and any help you can provide. :)
  19. Axa 403B--I'm Lost!

    Hi-- New to this forum but I've been learning a lot! My husband and I are both teachers but he has a 403b with his district in NY for the past 6 years. We are only 30 years old and don't have that much in there but we are getting nailed with fees from AXA ($30/admin + others). Now he married me and I ask questions :-). We don't have any options to rollover into any other plan (ROTH, 457 etc) until we are 59.5. The only option is choosing another 403b company from this list: GWN/Employee Deposit Acct Lincoln Investment Planning MetLife The Legend Group/ADSERV Voya Financial (ING Natl NY) Any recommendations? I know enough do stay away from life insurance companies now that you guys have educated me but I feel so stuck about how to decide on a new one. What questions do I ask? I did call Lincoln who said they can act as a broker for Fidelity or Vanguard and I can have my 403b there. No one was able to give me the fees yet though. And I'm assuming having them as a 3rd party would cost more??? It seems to be independent advisors-- many of whom said they would make house calls. BTW if we break AXA and move it over to a new company it's about $600 to do so. We are fine with doing this as long as we know we are making a smart move. We also have the option to just keep the money in a savings account (and stop contributing) with AXA at 1.75% but the $30/admin fee does not go away until 59.5 years of age. I'd like to open a ROTH IRA separately with Vanguard and just make the 403b sort of a secondary thing just to get it out of our hair at this point!!!! Thanks for the anticipated responses!
  20. Hello All, I stumbled across this website yesterday, and have since found it super helpful! I wanted to pick your brains on a dilemma of mine. I used to work for HISD (Houston, TX) where I had a 403b account with AXA. I opened the account on 10/22/2010 and contributed $9,596.82 during the year that I worked in that school district. As of 12/31/12 (more than 2 years now), my total account value is $10,355.09. I currently work at a private school which offers 403b plans with TIAA-CREF.I was ineligible in my first year here, so I just opened an account and started contributing to it this past fall. When I received my quaterly portfolio review from AXA equitable, I was a little infuriated to see the $30.00 annual fee deducted from my account (more so because I know TIAA-CREF doesn't charge annual fees, is that right?). Anyways, I thought it might be easier if I had all my money in one account (or with one 403b provider). So I am thinking about transferring the money I have in my AXA account to TIAA-CREF. I am 26 years old and don't really need the money now (and hopefully for the next couple years) so I wanted to run this idea by y'all and ask if it's a good idea to transfer the money to TIAA-CREF or if I should just let it stay with AXA... After all, a little surprise later in the future wouldn't be bad (i.e. I discover 30 years from now that my $$ with AXA is $100,000 lol) This is what my AXA portfolio looks like: Large Cap: 36.96% (EQ/BlackRock Basic Value Eqty: 20.24% and EQ/T. Rowe Price Growth Stock: 16.72%) Small/Mid Cap: 29.65% (EQ/GAMCO Small Company Value: 13.66% and EQ/Mid Cap Value PLUS: 15.99%) International Stocks/Global: 23.75% (EQ/Global Multi-Sector Equity: 11.54% and EQ/International Value PLUS 12.21%) Guaranteed-Fixed: 9.64% Note: I think the AXA lady advised me to go aggressive with my investments since I am young (well, that's what she told me). I didn't do any research when I opened the AXA account--well, the lady literally forced it down my throat. I didn't even know what a 403b was (still learning more and more each day). I spoke to a TIAA-CREF rep yesterday and he emailed me the forms that I need to fill out and send to AXA, but I wasn't sure if AXA was going to charge any fees for pulling out (anyone know?) and even if they would allow me to transfer out. I think I suggested it once when I first moved to my new school, but my AXA rep suggested I keep the account. Let me know if you need more info from me. Thanks in advance for your insightful answers/comments. George
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