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gobipuba

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  1. I have a 403b with valic that in their Profile Mutual fund platform. It is not in a annuity, My wife in in a separate school district with valic as her sole provider The school distirct and Valic are saying she cannot use the profile platform, but only the tax deferred annuity platform. I am not sure I understand this...if Valic is their sole Vendor, and Valic is in charge of their compliance for the IRS, and Valic offers a profuct through their 403b system, why would she not be able to invest her retirement funds in this product?
  2. Yes, called their profile retirement fund, marketed as a do it yourself plan with lower cost funds outside annuities. It is better as far as I can tell but not as good as Vanguard or fidelity.
  3. I wholeheartedly agree with you. It is really unbelievable how many educators blindly put their money in high priced annuity contracts year after year. those of us that seek low priced options are a total minority. I would guess that 90% of my colleagues continue to purchase annuity based products even when they have the option of the profile retire plan, which I am not a part of either. They just do not think about fees, because it is hidden in the account. The new regs have empowered valic and the others even more. When the new regs came in the vast majority of teachers were with valic annuities. They come in and say they will administrate the plan for the school district. I have really sort of given up the fight. I will invest in the roths to the max. I will lower our taxable income with the hsa as much as possible. There really is no other option, other than to publicly continue to highlight wnat valic and ing do to teachers with these accounts. My experience is they hate when enlightened teachers ask them questions.
  4. Steve, Sev is our old severance plan for teachers retirement from the district. A percentage of that money is placed in the teacher's 403b. That is why I will eventually have to open an account with valic. there is no match with our employer I agree with you about the Vanguard account. I am very glad that the money is orphaned there and not somewhere else. The Indiana trf has very low fees as well. If the money was at TRF I could roll that account into my final pension payment. I thought at a certain level that might be more simple in the long run than managing a separate account for the next 20 years. Sometimes simplicity is a good thing, as long as you are meeting your goals using low fee customer based companies and plans. There really is no advantage in me keeping my money at Vanguard over and above my TRF account. Vanguard has more funds to offer, that is true, but both my money at trf and Vanguard are invested in low fee target based funds. I am not even thinking of moving that money to a high priced annuity My point about the HSA is this. If you are in my position where you do not like the vendors your plan offers for your 403b, and you choose to fund the roths instead, contributing to the HSA is another way you can lower your taxable income. presnet taxes get to be a bigger issue as you make more money and lose some of your credits. We use the account for medical and dental, and therefore I don't lament the loss of 403b as much. That was my only point on the hsa
  5. I will probably leave the money in Vanguard. The problem is that eventually I will have to open up an account with Valic, as my school has a sev plan at retirement where money is placed in your 403b account. this has to be valic or ing, eithor profile retirement or annuity contracts. No way i am opening up an annuity. I thought if i could roll the money into the trf account I could simplify things a bit, then open up the 403 with valic at the end of my career. Presently I fund roths for my wife and myself. Interesting, for those of you interested in lowering your taxable income, but not having a good 403b plan, we have been contributing to my wife's health savings account. I still am very interested in this issue of rolling over the money to trf, and whether I will have to deal with valic if they our plan admin. Made a call to the school district yesterday, and will let you know what happens.
  6. Kat, Thanks for your reply. TRF is Teachers retirement fund of Indiana. You might be right about being there until I am eligible for distributions. I have gone back and forth about keeping it at vanguard, as I like them, but was going to try to consolidate my trf and orphaned 403b the whole thing is frustrating. Lets say Valic is my plan administrator now. They could move my 403b to valic couldn't they? I remember them saying you could roll over these accounts to valic if you wanted to
  7. I am trying to rollover an orphaned Vanguard account to my trf in Indiana. TRF wants a letter from the plan sponsor or admin that states the account is taxable funds from an eligible plan. Vanguard is saying they cannot provide this info that the plan is taxable because they are not the plan admin. I can no longer add funds to this account because of the new regs and our plan being with valic. I assume Valic is the TPA. What to do?
  8. Does anyone know anything about aig profile retirement? As to their fees. they are marketing a non-annuity platform of mutual funds. I am wondering if anyone has any experience with his?
  9. Our school district just announced that they were eliminating all options for employees except AIG valic and ING. We vanguard folks are very upset. The contract with them to be the TPAs for our school district. Valic is saying they have a low cost platform of non-annuity wrapped mutual funds. I find that hard to believe. I dont know what to do. Perhaps just go through the roths?
  10. Is there a difference between participating in and being covered by a plan? If I do not participate at all, would the dedeuction limits apply?
  11. If I lose my low cost vendor(vanguard), can I ignore the new 403b, and just contribute to traditional and Roth IRAs and still take my tax deduction for the traditional IRA? Is there a problem with doing that?
  12. Am i right to think that I copuls access my 403b7 at the age of 55 if retired, but i would still have to waith to get the money in roths without penalty to the age of 591/2? Thanks JD
  13. gobipuba

    Roth 403b

    Is there any place where you can actually invest in a roth 403b? I asked Vanguard about this and they are notr offering the product. Does any company offer the product? JD
  14. Would the loss of the 90-24 mean that schools could not have approved list with multiple vendors? As I read the article for the 90-24, if you are unhappy with the choices your employer provides you can use the 90-24 to transfer to a cow cost company. As I understood the article the schools would be required to have a plan document that had one vendor, and no other choices. Am I reading this correctly?
  15. The article was on Friday
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