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nesto

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  1. nesto

    457(b) Providers

    ================================== Check with your state's 457 Plan. Many allow local governmental etitities to offer the plan to their employees. Let us know the policy of your state. Thanks for the idea, but from my initial investigation it appears that in the state of Pennsylvania you have to be a "state" employee like a state trooper or state highway worker to get in. However, it does appear that Pennsylvania teachers are allowed to join in on the state 457 plan. I did get to talk to someone at Fidelity and they informed me that the minimum requirements to swap out of our current ING crap annuity plan we need 5 participants to join, and a starting balance of at least $24,000. I swung the idea around the office and everyone seemed very receptive to looking at other plans, (including my boss) especially when I informed them that we are being charged close to 3% with our current provider for some funds along with a $15 yearly fee and Fidelity offers similar funds for the 0.8% ballpark and a $24 yearly fee. ** Fidelity's fund list looks much better than ING's and appear to be giving a better rate of return than similar funds offered by ING** I am still going to look around some more and call TIAA-CREF tommorow and see what they say, but any advice from people who know of some low cost providers that offer 457(b) plans will be appreciated. THANX
  2. nesto

    457(b) Providers

    ============================================================= Check with your state's 457 Plan. Many allow local governmental etitities to offer the plan to their employees. Let us know the policy of your state.
  3. nesto

    457(b) Providers

    Well, lots of great information here!! I have officially been contributing to my plan now for 1 year so i decided to be a little more proactive with my investments and research more. Boy was i surprised to discover all the hidden fees that i am paying with ING. After searching the internet for a few days i discovered alot of valuable information regarding "good" providers on this website. My question is this, does anyone know the policy for opening a new 457(b) with another co. such as Fidelity, or TIAA-CREF. I ask because we are a small Municipal Authority with only 5 employees and not alot of money to transfer over. Is there a minimum amount of employees you need to have to sign, or minimum starting balances with most of these companies? I ask because I don't want to go into work and ruffle all the feathers of my co-workers if there isn't anything we can do about our situation. Any advice will be greatly appreciated
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