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L.a. Unified Teachers-Mark Your Calendar! Saturday, October 7, 201

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For Los Angeles Teachers

Investment Workshop

Open to novice and experienced investors

Investment Education

 

Investment Professionals will cover topics that include:

Retirement and Investment Basics

Mutual Funds, Annuities

Active vs. Passive Investments

 

LAUSD Sponsored Award Winning 457(b) Plan

Navigating CalSTRS' New and revamped 403bCompare.com

And so much more . . .

 

Saturday, October 7, 2017

Sepulveda Middle School (Evans Hall)

(Please be advised that this is the first time the workshop will be held at a school)

 

15330 Plummer Street

North Hills, CA 91343

 

8AM—1PM

 

(Check in begins at 7:30AM w/ coffee and light snacks)

 

Online Registration: www.utla.net/contact/investmentworkshop100717

 

$5.00 per person (exact change preferred) will be collected at the door

For more information, please contact Claudia Padilla

UTLA Conference Admin. 213-487-5560

Sponsored by UTLA’s Pre-Retirement Issues Committee

All are welcome and invited to attend our Committee meetings. They are held from 4:30—5:30 on the same evening as the House of Representatives meeting

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LAUSD teachers! For the first time in LAUSD history, or for the history of public K12,

4.5 hours of professional development credit will be awarded for attending this financial education workshop!

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Hi Imua,

These workshops are initiated by a team of employees and us retired folks. More than 500 have gone to at least one in the last five years. Way back in the 90s, another educator, Sandy, and I, started an informal group and met at a restaurant, just to chat. People would leave their emails and I would grow that list and keep people informed. This is way before the powerful social media tools we have today. Our very first Saturday workshop at a high school just four blocks away from this current venue drew 55 teachers! YES, 55! on a beautiful Saturday morning. This is back in the dark ages of 2002. Dan Otter was there and the first time I met him. I was the primary presenter but we had a panel. To tell the truth, I was not that organized because we figure about 5-10 would show up. But people stayed and wanted more support.

 

Our colleagues are begging for objective information, and are fed up with sales pitches. After all of these years, the word is slowly spreading that annuities are not a good plan, but it is still a MAJOR problem.

 

Just start meeting and be there no matter who shows up. In those early days, we sometimes had only one colleague and that was fine because NOBODY was doing anything like this ANYWHERE IN THE COUNTRY WITH PUBLIC K12. I cannot overestimate that--even today, I don't know more than a handful of people who frequent here organize some type of meeting, website, or presentation covering the basics:

1. Stay the hell away from ANNUITIES of all types, except for TIAA. Tell them that because of costs and restrictions, they will never get stock or bond market returns from annuities, both fixed and variable. Our pension plans (also endowments and foundations) never use annuities because they have a fiduciary agreement to provide the best returns, and annuities fall way short of those basic fiduciary standards.

2. Never pay commissions!

3. Showing your colleagues the low-cost investments that are available in your 403b or 457b plans: Vanguard, Fidelity, TIAA, and the low-cost third-party administrators.

4. Show them any state plans that are low cost. Here in California, we have the great CalSTRS's Pension 2.

5. Show them the 457(b) plan if its an open architecture with genuine investment choices (NO ANNUITIES): index funds, no-load mutual funds.

 

In this workshop coming up, there will be one or two people who will come up to me and say that they met me 15-20 years ago at that restaurant, and thank me and Sandy for offering that opportunity to straighten themselves out.

 

So Imua, announce that you are going to be at such and such restaurant and the subject will be the infamous 403b, and or the 457b. Most restuarants have meeting rooms that you can use for free but people have to order a meal.

 

Thats it,

Good luck

Steve

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Pushing this up:



LAUSD teachers! For the first time in LAUSD history, or for the history of public K12,


4.5 hours of professional development credit will be awarded for attending this financial education workshop!



Saturday, October 7, 2017


Sepulveda Middle School (Evans Hall)


(Please be advised that this is the first time the workshop will be held at a school)



15330 Plummer Street


North Hills, CA 91343



8AM—1PM



(Check-in begins at 7:30 AM w/ coffee and light snacks)



Online Registration: www.utla.net/contact/investmentworkshop100717


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pushing up

 

LAUSD teachers! For the first time in LAUSD history, or for the history of public K12,

4.5 hours of professional development credit will be awarded for attending this financial education workshop!

Saturday, October 7, 2017

Sepulveda Middle School (Evans Hall)

(Please be advised that this is the first time the workshop will be held at a school)

15330 Plummer Street

North Hills, CA 91343

8AM—1PM

(Check-in begins at 7:30 AM w/ coffee and light snacks)

Online Registration: www.utla.net/contact/investmentworkshop100717

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OMG! 60 teachers and other support service people showed up.

 

The UTLA treasurer stayed the entire time. I talked to him about the history of our Award Winning 457(b) plan and the auto-enroll that is rolling out, to LAUSD's smallest union, Buildings and Trade. This gives LAUSD payroll time to work out any system's bugs before going to the next biggest union, the 4,500 member Administrator"s Union.

 

Alex the Treasurer already knew about auto enroll, because LAUSD brought it up during contract negotiations. There are discussions that are on the negotiating table with the biggest union, UTLA, the 35000 member union.

 

Some in our union have all types of conspiracy theories against auto enroll and THEY ARE ALL WRONG. They don't know that the money is not going to LAUSD and the fact that members can opt out at any time (we all know that here but out in the real public K12 world??? It's unbelievable the pushback from a few influential leaders). They also don't know that the research done on auto enroll has been 100% positive for years with thousands of plans and employers. Only about 15% opt out and the vast majority of people are happy they were auto enrolled! So far of the 1400 buildings and trade union, 800 members stayed enrolled and about 400 opted out. Furthermore, LAUSD is really pulling out the best thing they could do to make this a success, they have each person's age, so the default investment will be one of the 457(b) Target Date funds that match their age! VERY COOL!

 

Auto enroll might be a game changer at LAUSD for getting people out of the rip off annuities into genuine investments.

 

I give Alex my book Fighting Powerful Interests. I gave away some 20 paperback books for those that were interested. This book is free for life as a pdf file for anybody else from my blog: www.latebloomerwealth.com

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