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cygnus

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  1. I paid penalties and lost money to grow for retirement. I could have gotten a loan, but I thought that the lower interest rate against my retirement plan was better, however the returns that I lost out on where great. It isn't worth it.
  2. I borrowed at one time $4000 from an old 401k. I was advised not to and have regretted it to this day.
  3. My wife's employer deposits 10% of her annual salary on her behalf into a TIAA CREF account. Until recently they only products the were available were annuity products. Now she has the option of a couple of retirement mutual funds; TIAA CREF small cap value and T R Price Large Cap Growth, which she uses. Her choices for the annuity products are CREF Global Equities, Stock, Bonds, Inflation Link Bonds, Social choice and Equity index. For the TIAA portion she has Real Estate and Traditional. She showed me her statement that TIAA CREF gave her and money was being allocated only into bonds and Traditional, about a 1.5% gain per year. She wasn't real happy and after she rebalanced she is in Real Estate, Equities and a very small portion in fixed as well as the mutual fund options. The return is over 7% during the past year. She also uses a salary reduction at 10%, which she hasn't done since she has been with her current employer. After much convincing that it is in her best interest she now has a self directed 403(b) with Fidelity. She has virtually the entire platform to choose from including all Spartan funds. For comparison purposes, the TIAA CREF account has some issues with their customer service, where as Fidelity's customer service is much better. The selections with the TIAA CREF that have done the best are the Real Estate fund, Equity index and the Stock fund. The Real Estate is direct ownership of corporate and apartment dwellings in the US, however they are beginning to purchase Internationally. That fund has been phenomenal in its returns. Both the Stock and Real Estate fund shares are quite high over $250 per share. However they are worth it. I hope this helps you decide.
  4. What is the principal's cut of the sales?
  5. I had a similar situation and I spoke with my HR person. They told me that they mail the checks to the whom ever sends out the money from there. When my $125 is deducted from my Thursday paycheck it makes it to my 403b account the follwoing Wednesday or Thursday. I do check my 403b on a regular basis. I asked the company that my 403b is with if they had online account access, and they do. On top of that some of the funds are with Franklin, which I can view them on line too at Franklin Templton. It may be a pain, but it is my money and I want to know where it is.
  6. Tony, Have looked at Morningstar.com? I am not sure if you need to be a member or not but I know that there are discussion groups there devoted to many mutual fund families. There are many people that may answer that question. I would love to have Vangaurd as an option in my 403b.
  7. I have been reading these posts and getting several chuckles. I see the email as a threat regardless of the content of the email. What makes it threating it is indicating a course action be taken against the individual if he doesn't cease. Also if TR is so concerned about the facts and hearing both sides, then maybe TR should take on the task of finding the facts, but I bet TR is happy being ignorant and will remain ingnorant. I found the article informative and as a result it shows how we should be more cautious about our retirement options in 403b. We had a situation at my place of employment where a financial advisor was attempting to set up retirement accounts in a 403b offering annuties. Several individuals including me wanted mutual funds only were told that wasn't an option, and I opted out. However there were several emails from the advisor suggesting we meet because he may have something else that may suit my retirement needs. I finally replied and told him that I wasn't interested in his services and the emails stopped. What it appears to me is that these financial advisors entering schools prey on the ignorance of teachers and often con them into these high fee annuties. I recently opened a 403b with my finacial advidor and he steered me away from annuties to mutual funds only. Finally after hearing TR's tirad about the facts and both sides of the story I continue to educate myself and colleagues regarding 403b options.
  8. cygnus

    403b Tsa

    I am currently enrolled in salary reduction 403b plan. On my paycheck it is called a TSA, which I assume means Tax Sheltered Annuity. With all the negative press about annuities and the extra fees they incur, I need to know what exactly is meant by Tax Sheleterd Annuity. The last thing I want is to do is pay for fees that are not neccesary. Could I get some clarrification? Is a TSA similar to an annuity that is being discussed?
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