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RetiredTeacherNEA

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  1. ira: there are load and no load in all of the funds. We have had all 3 plus waddell&reed ( didn't like them at all). Some Franklin and Opp. are w/out hidden cost.
  2. if you have a membership in a credit union and shares in it, usually you can take a 0% loan against shares ( at least I can) Our payback is 2 years. OTOH, it costs my husband 1.5% to take a loan on a 403(b) - open account . You have to look into the ability you have. W/out $$ in the credit union, I would have taken a loan on the open 403(b)
  3. What employer adds anything to your deductions? Our had to - by law - to our State Retiremetn System (but only for people hired in certain Tiers) Fortunately, we were fhired in those Tiers!
  4. If your district allows it, look into Franklin, Oppenheimer and Vanguard for fund groups. I like Franklin and Oppenheimer best. They all have lots of funds and many have no or tiny cost. My husband and I (60+ years together in teaching). We have no cost, others a small cost for SAM (stategic asset management: they roll the funds to make more money) and at least 5 are open funds (but NOT TAXED) On the open, we can take loans and pay them back. We may have to access monies later, only the penalty is ve4ry minimal at the age we expect. Put your full amount into the Roth and find low cost funds to 403(b) in. We both put in full amounts from our 20s and it enabled us to both retire in 50's. Our district allowed rolling funds from group to group; had we had a problem fund as you do, it could have rolled to another, no cost, as long as a 403(b)
  5. I am a retured teacher from NY state, from NEA-NY (which merged w/NYSUT several days after this came out and on the day 403bwise (Fera letter) requested an investigation.) We were not informed of this and Spitzer came and spoke to our Union , accepting our endorsement (promising nothing, as always). I own no annuities fromn either NEA or NYSUT, thank God. My concern? Our union merged with NYSUT - I am waiting for guilt by association and costs throw over to us. No wonder NYSUT wanted a merger - more people to spread the guilt on.
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