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Posts posted by pab

  1. 1 If Great West says no, then what legal recourse do I have to move my Great West 403b money to a district approved vendor via a 90-24 transfer?

    2 Also, can Great West decide to which vendor it is moved?

    3 Does GW have legal sanctions whether or not they allow a 90-24 transfer?

    4 What is the law that governs these issues?

    5 OR...is my money simply held hostage by GW?

  2. I am a former teacher, under 55, who has a 403b account with my former school district. I am now employed in the private sector. Can I, and, if so, how do transfer my 403b money into the company's 401k offering? Maybe I should also ask, should I transfer the money? Please refer me to any IRS information regarding the transfer.

    All advice appreciated.

  3. I am a public school teacher who has $50k spare "change" to invest. Our school district has 403b and 457 deductions available. I have not maxed out my dedutions in either. I am over 60 and will not need the money for at least 5 years. I am 1 year away from retirement. I have low risk tolerance for loss.

    Help!! Thanks.

  4. I have a few questions surrounding TIAA CREFF, Vanguard or Fidelity as a school district's vendor.

    1) Since TIAA CREFF, Vanguard or Fidelity apparently do not have sales people then who is responsible for communications of 403b plans?

    2) Who would be responsible for educating new, and veteran, employees?

    3) Would 12b-1 fees not exist as there is no marketing of their plans?

    4) Would/could there be other fees regarding marketing that I have not mentioned above?



  5. Thanks for the input to date regarding my post.

    But...I'm still curious as to what the fiduciary responsibilities of the school dictrict are to its employees.

    For example- who is in charge of making certain employees do not exceed their limits in 403b or 457 salary deductions? Is it the district or the vendor or whom? And why? Another example- who is responsible for administering and overseeing a QDRO in divorce or other property settlements?

    Does anyone know of a model that was suggested by GADFLY in an earlier post having a third party administer 403b the school district when Vanguard or Fidelity (lacking sales people) might be the sole vendors?



  6. What IRS laws and other laws regarding 403b's and 403b7's are public school districts under the jurisdiction of? Or to put the question some other ways:

    1) Can a school district simply authorize an employee to select their own 403b or 403b7 vendor? Why or why not?

    2) What is a school district's legal responsibility regarding 403b accounts?

    3) Are those responsibilities different when the salary deduction is a 403b7?

    4) Can employees take a 403b7 salary deduction? Why or why not?

    5) What is a school district's ethical responsibility for its employees regarding 403b/403b7 salary deductions? Is there a written standard of ethics for school districts to follow?

    Somehow, I think there may be a connection to my questions related to hold harmless/indemnity agreements.

    Please advise. Thanks for your expected responses. Any help will be appreciated.


    Yours in education,


  7. Hi Dan,


    Why not ask both NEA and AFT offices for their support via access to their members and publications. As teacher advocates they could find ways to "sponsor" your (and my) cause for greater finacial freedom. I am a veteran teacher (and a 403b/457 contributor) and my daughter continues the tradition.

    Best wishes on getting this book into the hands and minds of our educators.


  8. My school district has approximately 5000+ employees. We have begun talks of choosing a 403b vendor(s). What is the ideal number of vendors to have? We currently have over 30 vendors and access to a 457 plan. The district provides a match when employees contribute to either plan.

    All advice, concerns and comments appreciated. Thanks for your help.


  9. My school district is in the midst of a 403b RFP process. A single vendor will be selcted. Please help with the following concerns: 1) What significant questions should a potential vendor be asked, and 2) what criteria should be established to help determine which vendor would be the best for our employees- of which I am one. Any suggestions will be appreciated.

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