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jyork

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  1. I'm not sure I understand. What is the advisor signing off on? That you did the math correctly on the SRA? This doesn't seem right. You could have found someone to sign that form. The advanced markets dept. of the fund family you are contributing to would have possibly signed it. Or you could have found an advisor in your area that would sign off on it. This makes no sense. There's a directory of advisors on this site that would have signed the form. Was it just a matter of principal that you would sacrafice three years of catch-up before having an advisor sign something for you? Groundswell: In beginning of 2009, new TPA wanted an agent to sign off. Yes, they want to make sure the math was done correctly before the SRA would go through. I could have found an advisor to sign SRA off, but thought, I would not rock the boat. I dumped 3000.00 extra for 07 and 08. Since that time, TPA has updated SRA--now I do not see a spot for an agent to sign off. It looks like I could finish off the last 9000 extra catch up. I will leave things as they are for now. I feel lucky to have Vanguard. jyork
  2. Hello: I wanted to give everyone at this site a heads up on a new 403b article The Wall Street Journal will be publishing next week. The reason I know this information is because on April 8th a reporter from the Wall Street Journal interviewed me by phone. She was interested in how the new 403b regulations had impacted me personally and my fellow employees. I spent 40 minutes with her on the phone. I explained the biggest changes the new regulations have brought was not being able to complete the last three years of my 15 years long service catch up contributions into the plan. The reason I lost this option was the new TPA wanted an agent to sign off on the paper work. I told the TPA I do not use an agent. You know where that went. Also, now I have more paperwork to fill out to make salary deferral changes. I told the reporter. I am sure when the article comes out Dan, Steve or Tony will put a link to it. So, keep a look out for the story. jyork
  3. Hi Steve: I am sorry for calling you Don. Please tell your committee members for me. Why my little school district with less than 55 employees has better and lower cost investment products than LAUSD with over 40,000 employees. It seems crazy to me the huge difference in DC plans. I am planning on posting my story in near future. I hope my English skills are up to the job. I will have my wife who is a teacher proof read it for me before I put it out. Let me know what your committee thinks of the list I provide to you. Good luck, Jeff
  4. Hello Don: I did some research at 403bcompare.com this afternoon. I found other school districts in Shasta County that have low-cost 403b options. I have provide you a list below: 1 Shasta Union High School District: Vanguard Group 2. Shasta College: Vanguard Group/ Fidelity Investments Institutional Services Com. 3. Enterprise Union Elementary School District: Vanguard Group 4. Pacheco Union Elementary School District: Vanguard Group Please use this information to show leadership at your old employer. The Vanguard is doing business in K-12 school districts in California. Let me know what happens, Jeff
  5. Hi Tony: Your post is great news. I am really hoping your employer is open to adopting the plan. I wished I would have posted something to you sooner about the 457(b) option. Considering what has happen to you at your District. Three things you should know about the the 457(b) program. 1. You can use it to buy service credit in your pension. 2. You can rollover your 403(b) to the 457(b) 3. You buy units inside the plan, in contrast to 403(b) which has retail mutual funds. The link below is for the CalPERS/ING Plan. It may provide you with insights in how the plan operates. https://calpers.ingplans.com/csportal/welcome.do Please keep me updated: jyork Redding, Ca
  6. Hi Tony: I do not know how the Virginia School System works? But out in California, to get the CalPERS/ING 457(B) all I had to do was ask my school employer to adopt the plan. It cost the my employer nothing for the plan. It was simple to do. Just needed The School Board to pass a resolution, so they could offer the 457(b) to the employees. It took about a month to get the plan on board. I had it adopted in 2004. It is one of the best kept secrets at my little school district. You must be wonder why I have the 457(b) and 403(b) option. You have to first thank this site for giving me a great education on how retirement plans work in a school system. Dan's site tipped me off to up coming 403(b) regulation changes. I was very afraid of loosing Vanguard when the regulations to effect. So, I had the 457(b) put in place as a backup option. I hate to say this to you Tony, but I was able to keep Vanguard. I know it sounds crazy. My little school district in Redding, Ca still has this low-cost option. But it is true. Dan's site helped in keeping Vanguard on the my employer's 403(b) list. That story would be a huge post if I was to tell it. Back to your post Tony, I took a quick look at the investment options. I agree. They look really good to me. I see the plan has some Vanguard Funds and low-cost index funds. I think the plan's expense ratio 19 bps. But please check to make sure I am correct. If you can get the plan adopted by your DO. The Virginia 457(b) plan would be a nice replace to Vanguard 403(7) option in my opinion. Only, item I saw on Virginia 457(b) website that worried me was a flyer talking about higher educational employees use the 457(b). I hope it can be offered to k-12 community. Let me know what you find out about the adopting the plan. Thanks for taking the time to post all those financial news stories. I enjoy reading them. jyork Redding, Ca
  7. Hi Roadtripper, My school employer is using MidAmerica, and I have Vanguard account. From I what I understand, your school district will have to sign Vanguard's paperwork to be on your vendor list. Do you have a Union that can help you out? If not, go to your School Board and explain to them you need a low-cost investment option like Vanguard. Education is the key to making things change at your school district. I just had January's 403bs contribution sent through MidAmerica to Vanguard this week. I am waiting to see if it makes it to my account. I will let you know how it goes. Good luck, jyork, Redding, Ca
  8. Hi, Please check out Fidelity Direct 403(b), they have a Roth option. jyork Redding, Ca
  9. Hi Tony, Here is a list of Vanguard Funds you may want to use in place of your 403b account. Value Index International Value Tax-Managed Growth and Income Tax-Managed Small-Cap Tax Managed International Emerging Market Stock Index Small-Cap Value Index Like sschullo said, look at Index funds and the Tax Managed funds, they are you best option in a taxable account. jyork, Redding, Ca
  10. Hi javert, I would not invest in any of the your 403b choices you have right with your school district. They are all high fee companies. Your school's CBO is getting the 20 number from your TPA or it is the policy of the district. Twenty sounds high, but I remember someone posting on this site needing 50 to get his district to add Vanguard. Ask your CBO for the 403b plan document the number might be in there. I would get your Union involved for sure. That is what you pay them for to look out for your best interests. For now please look at opening of an Roth IRA at Vanguard. You can put 5000.00 in for 08 and add another 5.000 for 09. If you want to put more away for retirement then begin to work on getting Vanguard add to your 403b list. Others at this site will provide you with more information. Good Luck, jyork Redding, Ca
  11. Hi aptercher, I would wait on the 403b transfers until the dust settles on the new 403b regs. Also, the market is down you would be locking in any losses you might have if you moved those accounts right now. Just my two cents, jyork, Redding, Ca
  12. Hi Ray_CSU Keep drilling down until you get all of the information on the Fees you will be paying for your investments. I wished I had done it when I first started investing. I want to share with you and others at this site another fee associated with Mutual Funds. It is the Fund's brokerage costs. I thought this cost was part of the Fund's expense ratio. But after reading Eric Tyson' Book "Let's Get Real About Money" I have learned this is not the case. In Mr. Tyson's book, on page 184 "The Truth About Mutual Fund Expenses," he gives an example using the Vanguard Morgan Growth fund. It's expense ratio is 0.41. You add in the brokerage/transaction commissions paid to sell and buy stocks inside the fund this adds additional cost of 0.18 to the expense ratio of 0.41 bring it to 0.59. To find the brokerage commissions costs, you have to look in the "Statement of Additional Information." After you locate the brokerage/transaction costs, you divide this number into the total assets of the fund. This is what Mr. Tyson did in his example for the Morgan Growth fund to get the number. I called Vanguard yesterday about what I had read. Vanguard said, "the SEC dose not require them to report the brokerage/transaction costs as part of the expense ratio of the fund." I asked (Vanguard through the Voice of the Client) to have these costs shown in their literature. We will see what happens. jyork Redding, Ca
  13. Hi Dpww13, Here is contact information for you. Plan Implementation Specialist MidAmerica Administrative & Retirement Solutions, Inc. 211 E. Main St., Ste. 100 Lakeland, FL 33801 (800) 430 - 7999, ext. 142 (863) 686 - 9727 fax www.midamerica.biz You have to get proactive with your employer to keep a low-cost vendor like Vanguard on your list. I can not tell you how many hours of my time. I have spent trying to keep Vanguard on my employer's list. It was worth it. Do you know about 403bcompare.com? If not I would suggest you check it out. It is a great site to compare investment products and fees. I would use it to show your employer how important it is to have one low-cost investment provider in its 403b retirement plan. If you need to speak to me, you may PM at my email address at this site. Good Luck, jyork, Redding, Ca
  14. Hi, My Employers is using MidAmerica for its TPA. MidAmerica has signed Vanguard's ISA paper work. jyork Redding, Ca
  15. Hi Brain22Golf, My school employer has gone with MidAmerica for TPA service. I am happy to report. MidAmerica has signed Vanguard's ISA, so Vanguard will stay on my District's 403b Vendor list. jyork
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