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txishome

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Everything posted by txishome

  1. Gotta hop back in here. Please advise to the names of these fees that I am overlooking. I know there are no 12-b fees. The mutual funds offered are no load funds. Give me a list of fees and I'll make the phone call. Again, thank you for all of your input. Although you may not realize, I even gather good information from ya'lls bickering!! Txishome (inexperienced, novice, I can't recall any others)
  2. I'm going to land on the side of TR1982 on the whole Valic issue. I think it is great that apteacher knows the expense ratios for Vanguard and Fidelity index from off the cuff. And to have all of you respond to literally my first post has been invaluable. BUT... I have taken all of your warnings and questions, then presented them to a Valic rep, and returned with what he said. I went from expecting 2 to 5 percent, do dealing with .82% total. To have to pay what amounts to $68.33 (based on a $100,000 portfolio) a month and in return I get to reduce my taxable income by $15,000 a year, seems like a pretty good deal. Come on... gotta admit this is not that bad!!! Again, thank you to all who have been so helpful!! Txishome
  3. There were 3 basic fees explained to me. 1. Valic's fee, which is the .32% of each mutual fund held. There are no 12-b fees and no front or back loads. 2. The mutual funds fee. They run as high as 1.16% for a REIT fund and as low as .40% for a bond index fund. 3. Valic will manage the portfolio for a bigger fee. The percentages are based on the account balance. The higher the balance the lower the fee. The Valic rep is available to hospital employees (even the ones he doesn't manage) to "bounce ideas off of". There is no fee for this service. This situation that the hospital has set up works well for our family. There are only 21 mutual funds offered (disappointing) but I plan to stick with index funds. The highest cost is .50%. I will "manage" my own account which leaves me with a total fee cost of around .82% (.32% + .50%) for my account. The hospital went from an annuity based plan to this "simplified" plan about 10 months ago after several complaints. The Valic rep. admitted that his pay went down considerably with the change, but his work load diminished too. I got a sense that the previous plan was much like what is discussed here. Txishome
  4. After much discussion, here is what I found out. The hospital is signed up with AIG Valic for a "non-annuity", mutual fund based plan. My fees are .32% for Valic + the mutual fund fee that I choose. That's it for the fees. There are no 12b-1 fees and 90-24 transfers are allowed. The plan offers 21 mutual fund options (mostly Dreyfus and American funds). The rep. was very accommodating in regards to his involvement in asset allocation. Any advice that he gives me is covered under the .32%. I am comfortable managing the 403(b), but they also offer portfolio management (for a fee). Overall it was not nearly as bad as I have read from other posts. I gather that the hospitals exit from an annuity based plan is what has made this a much better experience. Txishome
  5. With all of the recent AIG Valic talk, and all of your various replies, I have set up a meeting with the Valic guy for April 21st. I will pepper him with the questions all of you have formulated for me with your witty banter. Any suggestions for questions other then the obvious fees, management, investment options, etc.? Txishome
  6. So now I am officially depressed. They currently have no other investment options offered. I plan to meet with the AIG guy and pepper him with fee questions. As far as I can tell from the literature, 21 funds are offered (mostly American & Dryfus). My quandary lies in the math. It will be darn near impossible to calculate the pre-tax benefits, the fee problems and the employee contributions vs. the taxable growth, better investment options and lower fees. Who has that kind of time!!! I think I'm better off whining and trying to get Vanguard in the loop. txishome
  7. My wife has a new job with a hospital that uses AIG Valic for their 403(b) investments. Their investment choices seem very limited and I have heard little about them. Does anyone have any information, good or bad, about them that you would like to share? Thanks ahead of time!! txishome
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