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krow36

457B State Plans for K-12 employees

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I’ve been collecting state 457b plans and their links for a few months. Today I stumbled on to a 2012 post by Joel proposing that a list of state plans would be useful addition to the 403bwise forum. He was thinking mainly of state 403b plans but suggested there should be a list for 457b plans as well. http://board.403bwise.com/index.php?showtopic=5419

 
Were lists of state plans established on the forum back in 2012? Do you think it would be useful? It seem like the question comes up on this forum and on the BH forum fairly often. What do you think?
 
 
457b STATE PLANS
 
AL
 
AR
 
 
CA
 
CO
 
DCP and a 401k are available to K-12 employees statewide
 
CT
There are a few districts on the list but it also seems that State employment is required (see application form)? Can other districts be added to the list? http://www3.prudenti...etail-page.html
 
 
IA

Core Investment providers: HMann, MassMutual, VALIC, VOYA: all low cost; their fees: https://das.iowa.gov/sites/default/files/hr/ric/documents/prod_fees.pdf

Also uses 5 “Optional providers”: SB, AXA, Lincoln, EFS and Great American., fees/load add up to about 1.0% or more. No bargain.

their fees: https://das.iowa.gov/sites/default/files/hr/ric/403b/documents/AAG_ERE_OP.pdf

 
HI

The "getting started" page: http://islandsavings...ng-started.html

And the investments that are available: http://islandsavings...nvestments.html

 
LA

Core funds: https://louisianadcp...98228-01&db=pnp
more info: http://board.403bwis...?showtopic=6459

 
MA
 
ME
DCP: Maine teachers are State employees and receive their pension through MaineSTRS. They can use the Maine Saves 457 which has a choice of 3 providers: Mass Mutual, VALIC and Voya. http://www.mainesaves457.com/my-investment-options/
The other two providers include low-cost funds as well.
 
MN
 
NC
also has a 401k and 403b
 
NH
Teachers are members of the NH Retirement System so should be eligible for the NH DCP plan. https://nhdcp.gwrs.c...cu=NHampshireWR
 
NY
 

DCP: guide to the plan https://www.nysdcp.com/iApp/tcm/nysdcp/about/index.jsp

guide to investinghttps://www.nysdcp.com/tcm/nysdcp/static/Brochure_NYSDCP_Education_Kit.pdf?r=1

plan partners & fees https://www.nysdcp.com/tcm/nysdcp/static/fee_transparency.pdf?r=1

 
OH
 
 
 
WA

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Awesome. Thanks! BTW: We are in the middle of a major site redesign and we will incorporate this. Thank so much. Keep 'em coming!

 

- Dan

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Tony, thanks for Virginia's DCP. I'll do an edit and include it in the original post.

 

I posted this thread hoping that others would contribute. I stumbled on the state 457b plans while looking for alternatives to teacher’s often very poor 403b plans. Please post additional info or corrections.

I recently noticed a BH poster with a user name of physicsteacher and noticed that she teaches in Arkansas, and she has mentioned that her 403b is not a good one. I looked for a Arkansas 457b and discovered there does seem to be an alternative to a poor 403b for AR teachers.
Are teachers in Arkansas state employees and eligible for the AR state 457b DCP? It looks like it.

http://portal.arbenefits.org/Pages/default.aspx

plan information
up to date fund choices and ER’s, including 3 great Vanguard index funds.
Here’s a BH post on the AR DCP for docs.
I’ll edit my OP to include the AR DCP. How about posting the info on your state’s DCP if it is available to teachers, or others?

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Maine teachers are State employees and receive their pension through MaineSTRS. They can use the Maine Saves 457 which has a choice of 3 providers: Mass Mutual, VALIC and Voya.

http://www.mainesaves457.com/my-investment-options/

The other two providers include low-cost funds as well.
I'll correct the Maine entry in the OP. Does anyone have a State 457b for K-12 employees to add to the OP? (I think CT will be added soon.)

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Here is New Hampshire's: https://nhdcp.gwrs.com/login.do?accu=NHampshireWR

 

It looks like some school districts are eligible for this, while others are not (mine, for example is not on the list; we have access to some 457b plans through OMNI, however). The "plan details" tab is a blank page, but you can see that the fund options include T Rowe Price and Vanguard funds.

 

Hope this helps!

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idietel, thanks for NH. I'm adding NH and CT to the OP.

 

NH Teachers are members of the NH Retirement System so should be eligible for the NH DCP plan. https://nhdcp.gwrs.com/login.do?accu=NHampshireWR

 

CT There are a few districts on the list but it also seems that State employment is required (see application form)? Can other districts be added to the list? http://www3.prudential.com/email/retirement/IMFPWeb/hosted_websites/ts/ctdcp/enroll-detail-page.html

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Yeah, this is great krow. The 403b is forever corrupted. If it's a goal for us to encourage our colleagues to use the 457(b) plans, you did a marvelous job researching and making it simple to answer questions. When people ask for options, we can point them to a list. I am going to steal the list and put it on my blog too! :- )

 

You listed the 401k in CO, which I find amusing as our powerful National Education Association has a great 401K plan too! (for those who might not know why this is funny. It's not funny, I was sarcastic because NEA's absolutely wonderful 401K Vanguard plan is only for their 700 employees, not for the 3.5 million members).

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Hi Krow and others!

 

I am using a NY state 457(b) brochure that is a bit newer than the one listed here. The newer one is a shorter, more succinct version. Maybe both site links could be included? My school just made the 457(b) available so I am looking into switching over and I have been using the newer brochure.

 

https://www.nysdcp.com/tcm/nysdcp/static/fee_transparency.pdf?r=1

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