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Posts posted by Beauxdru

  1. Dan.. ahh.. my apologies.. this is your site.. I was referring to Steve's post.. talking about the non profit status of TC.. from your link..


    "Since 1998, both TIAA and CREF have been subject to federal income taxation following a decision by Congress to end the organization's tax-exempt status under Section 501©(3) the Internal Revenue Code."


    non profit? I have a real life.. and I teach.. I am free to meet whenever, just PM.. I even sent Steve a PM in regards to the meeting in LAUSD.. never got a response.


    I hear pluses and minuses about all companies.. Vanguard.. do a little research and you will read about fees that people were stuck with that they were unaware of and the difficulty some of my peers have had from moving money from Tiaa to another company. Things happen and thats life.


    Finally.. I will say that the salaries of TIAA don't add up to the millions in bonuses that some of the other companies make and TIAA has even had a troubled past with it's company.. some employees anyway. That in itself does not make it a bad company.


    Steve... I am so glad that you can make the investment decisions for all of us in regards to where we want to put our money. Speaking of profits.. just took a quick look.. in 2006 TC made @ 2.6 billion in profits and came in second among insurers.. yet they made more profit than the 1st and 2nd companies combined. Need to get some more recent data.. that was just a quick look around.

  2. PS, the study is done by TIAA CREF so it makes sense that any professional hired as a consultant would oppose anything TC does. I have seen this with my union, UTLA and with AFT, there is an inherent bias by the consultants to TIAA cREF. It is such a mystery because of ALL THE FINANCIAL VENDORS IN THE PLANET, TIAA CREF IS A NON PROFIT AND HAS BEEN WITH OUR BROTHERS AND SISTER AT THE COLLEGE AND UNIVERSITY LEVELS SINCE 1918. NON PROFIT!!!!!!




    Call me cynical.. as so many so often do.. but when I read this story I had to stop laughing long enough to write a reply. TIAA is no longer not for profit.. so know your sponsors. Secondly.. if you saw the millions and millions that execs made at TIAA.. well you would wonder how they can afford to pay all those high salaries being so kind hearted and worry about us little people.


    So TIAA writes a paper and does a study basically saying that "they" are the best option for us all, then get a person "payed" by the company to say how good their "study" was. Sort of like asking the Nissan dealer if a Nissan was as good as Nissans commercials say it is.

  3. Christopher J. Ailman sez:

    The fund closed 2010 at $146,414,701,799 (146 Billion) the high value of this Fiscal Year and in 2010. We’ve climbed back to the level we were in October of 2008, when the financial markets began to meltdown. In total, this is the third time we have been at this level. The very first time was in September of 2006, the first time we climbed up toward $150 mil.


    The 2010 investment return is 12.72%; we beat our Policy benchmark by 24 basis points. While far from the 60 bps we strive to generate, it’s nice to beat the benchmark for the first time in 2 years. Every asset class, with the sole exception of real estate, outperformed its respective benchmark.


    Been doing some research on CALSTRS and pension issues.. and of course all google searches lead back to here at some point. According to the CALSTRS site the numbers are..


    2003 100.53


    2004 116.18


    2005 129.59


    2006 143.85


    2007 171.90


    2008 161.46


    2009 118.88


    2010 146.4


    So reading what you posted and what was said and looking at the numbers on their website.. they are still 20 Million short of 2008.. but much better than 2009. Am I misreading what they are posting?

  4. You can request that.. however.. reading what was posted.. it was a particular product.. not a vendor. Thats a little different. I apologize if anyone thinks I am accusing anyone. I was just going by the facts as they were presented by the original post. I guess I should just guess at what was really meant?


    Using that logic.. I see that 300 people are participating with Lincoln. I would have no idea what they were investing in, just that they are with Lincoln.


    Anyway.. I read your blog Scotty and I do have to give you kudos for that.



    They are savings vehicles with a different crediting method, so of course there is no way to lose money - its a gimmick (forget the point that everyone who has every bought an EIA immediately loses anywhere from 5 - 15% of principal due to the Surrender). Compare the product to a bond, a fixed annuity or even to that same insurance company's bonds - but not to the return of stocks.





    Odd thing I have not been able to figure out. I have a balanced portfolio.. and at my age I have started shifting a little more to annuities and a little less out of the "market" When I talk an advisor.. I always get the patented response.. this is a long term investment and you shouldn't panic due to market conditions, etc. Whats the difference between a surrender period on a product and a "long term" investment scenario? I didn't realize that my retirement savings was to be viewed as a Christmas savings account.


    The index product I am in has outperformed my Fidelity funds.. (poor selection on my part I will admit) and now that I am out of the surrender period on my annuity which I have had for over 10 years, I fail to understand the logic.

  6. "Indexed Annuities, The Power Of Suggestion.... About 7000 LAUSD employees have been sold these turkeys"


    I am curious.. how are you privy to the investment options by educators in a school district? This should be looked into as this is privileged information between the investor and the company. I think the employees of LAUSD may have a concern that you have access and are disclosing it openly on public boards.


    As for money loses.. the billions upon billions lost to people while their brokers were under the watchful eyes of FINRA and the SEC.. well.. lets just say when you have an issue.. yell "Squirrel" maybe no one will notice.

  7. Please advise.. My sisters school district reduced the number of 403b vendors to three. All of them low cost mutual fund companies. She was “advised” by the district in a letter that her choice of company that she used would no longer have deductions sent to it and she should consider moving her account to one of the newly selected vendors. She did this back in March and has lost close to 24% of her account value.. funny thing.. those low cost fees are still being charged.


    She has contacted the company and asked for some investment advice and has been given reams of data to try and sort through to figure out her options and there is no local company representative for her to meet with, so she is more or less on her own with the exception of the 800 number.


    She wants to move her money back to the previous company but cannot. From what I can gather.. the district is not going to sign an information sharing agreement with the other vendors and the plan administrator cannot sign off on the exchange??


    I guess you get what you pay for??


  8. Sorry I do not know how to do the quote thing. Tried and it looked like a mess. I hope that is OK. The lady I talked to about my account when I opened it did explain to me about the CAPs, etc. I did do a little reading before I went with these folks and I have been very happy so far.. the last two years I have done just over 7%.. so far so good.


    My agent has been great about answering questions and I feel pretty g

    good about her. I have learned from past experience about what NOT to do.. which is one of the things that brought me to this site in the first place.


    Thank you for the FINRA post.. funny thing about that.. that is like asking Hillary about Obamas better qualities and vice versa.. did a little googling and found that Finra thinks EIA's should only be sold by securities people.. I dont know about you.. but I would not ask my enemies for a letter of reference.. Smile


    Second.. what is the problem with a company making money? If they make money.. they stay in business? thats a good thing.. I would think.. and the more they make.. the more I make.. at least I hope so.


    Final thought.. the lady that helps me lives in my community.. she pays taxes.. and has two children of her own in school here. Why is it a bad thing to help support someone who supports our community?

  9. No.. sigh.. she was not using an advisor. Someone told her she would do better on her own so she tried. Most of my peers dont have the experience to manage their own money. I dont. Smile So I dont try.


    I am in an equity index annuity.. there are no fees.. but there are surrender charges. I dont mind those as it is a long term invesment for me. I think it helps to add to the discipline.. (which I lack sometimes)


    Thanks Tony for your comments. I appreaciate that.


  10. I have read a lot about low cost mutual funds on this board. I like the idea, but I have a couple of questions..


    1. Where do these companies make their money?


    2. Who helps me manage the money in the funds? I have an associate who lost over half of her retirement 5 years before she was to retire. She is still working because of that. I dont want to have to work that long.


    Thank You.


  11. Cost cutting for the companies in FL will be done in several ways. One of the "experiments" that a couple of the companies are trying there is to eliminate the reps and go to "800" type service. There will be no local contact for several of the vendors just an 800 number for clients to call.

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