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I'm finally getting a hold of my finances and have crawled out from under AXA and away from a fee-based adviser, thanks to the New York Times articles and 403bwise. I do, however, have a question as I am moving forward. I just completed a contract exchange from class A shares in American Funds to Aspire, where I have another 403b to which I currently contribute. I understand that my money transferred in will not be co-mingled with my current account. Must I continue with the same American Funds under the Aspire platform? Or can I sell and purchase Vanguard funds, as I believe the fees are much lower. If I must keep the American Funds, can I at least change the asset allocations? Aspire referred me to their Class A shares expert, but I have not been able to get a hold of him yet. Thank you for your input.
KER posted a topic in 403(b) ForumI have been working in a district (New York state) where I was contributing to my 403b under plan member. I just got a new job in a new district. They do not offer plan member as a provider. I think I am going to go with Aspire. Should I transfer my old funds to the new 403b account? Should I keep them in plan member and just not contribute? If I do transfer funds, do I contact my new provider (Aspire) or the old one (plan member)? Thank you so much for any feedback!
Hi everyone! A huge thanks to all who have helped me learn more about the trials and tribulations of 403(b) investing. I have managed to get Aspire added to our district's offerings. Working on TIAA Cref. (The superintendent is "thinking about it." Huh???) Anyway, I wanted to spread the word about our generally lousy options. I met with a group of 30 people from the teachers' union reps and presented some basic information. Details about fees, advisors, options, etc. (I used part of the John Oliver, Retirement video. Very funny and quite apropos!) it went over very well...but I did get a lot of questions about annuities. Such as, how to extricate themselves from an annuity! I know very little about annuities, never having been roped into them, but I know they are pricey, hard to exit, and a killer, often, for one's investments. Do you have any particular website I could recommend? I am not becoming a financial adviser, just trying to steer people. I have mentioned this website and the Teach and Retire Rich book. Other suggestions? (By the way, I found the interview with Mark Luckenbill about Aspire very, very helpful. Thanks!!!!!)
Our district 403b list includes the usual: AXA, MetLife, Oppenheimer, Legend Group and Voya. It also includes GWN/Employee Deposit Account and Mutual Inc/Plan Member Services. I'm confused on what the last 2 are. It sounds like they might be aggregators, like Aspire. I am actively working with Omni, our business leaders to add Aspire but in the meantime, I'm trying to do my research on how GWN and Mutual Inc work. Is anyone familiar with either of them? Thank you.