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krow36

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  1. I don't think you should be concerned that you would be the first person in your corporation to use NEA Direct Invest. You should be PROUD! There may be no hangups. Every district/corporation is different. You can't predict these sorts of things!
  2. Here’s a link to the schools that are participating in the VA state 457b plan: https://www.icmarc.org/prebuilt/apps/downloadDoc.asp Tony is your man to help you get your school added to that list! Setting up an NEA Direct Invest 403b account with Security Benefit was covered in msucurt’s recent thread. After you read it over, please come back here with any questions.
  3. The White Coat Investor article, including comments, is excellent! Thanks MNGopher!
  4. A previous poster some years ago had a match with a Security Benefit 401a and was able to switch his match contribution from SFR? to NEA Direct Invest. The employer contribution continued to go to the 401a using SFR. After your NEA Direct Invest is set up, you will be able to work on transferring your HM 403b balance to the NEA Direct Invest account. HM requires you do this using their transfer form. The transfer will terminate the HM 403b, unless you choose to do a partial transfer. You will probably have a surrender fee which the HM 800 number can tell you about. Because of the high fees of a variable annuity (2% or more), it often makes sense to pay the surrender fee and invest the money in a vender's low-cost 403b (0.1% or less).
  5. M Pearson, welcome to the forum. You are fortunate that Vanguard in on the list. It's an industry leader in low--cost mutual funds, and the first to sell low-cost index funds back in the 1970s. Vanguard does not sell annuity based 403b plans, as do many of the vendors in you list. You could choose one of their target retirement funds which includes stocks and bonds, both US and international. https://investor.vanguard.com/mutual-funds/target-retirement/#/ Have you read the 403bwise investing information on the website? It's a great review of 403b basics. https://403bwise.org/education
  6. I agree with Tony completely! It's a reasonable asset allocation for someone 10 years from retirement who will have a pension and maybe social security. The TBF is not earning very much right now, but it will look great if there's a big downturn in the stock market. The TISF at 10% isn't going to be a big factor no matter what happens, but it adds diversification and you never know when it will do better than it has recently. We own some TISF also.
  7. ClarkandAddison, welcome to the forum! I agree with Tony that being a member of NEA, or working for a district that bargains with a NEA union, is irrelevant to being able to use Security Benefit's NEA Direct Invest. I would stick with the Vanguard funds in NEA DI because the others are more expensive actively-managed funds. You can find a discussion of the Vanguard funds in msucurt's thread. Good luck with getting Fidelity added to the 403b vendor list. Do you have a 457b vendor list? What state are you it?
  8. It's been reported by an employee of an un-named 403b annuity-seller that they would receive a transfer form with 3 mistakes. They would reject the transfer and point out only 1 mistake. Same procedure on a 2nd mistake. The customer would often give up or postpone the transfer. There's lots of blame to go around for the K-14 403b problems, including Congress, the Federal executive branch (SEC, IRS, Dept of Labor, etc.), the States, school districts, unions, the insurance and finance industries, the TPAs, etc. Did I forget to mention K-14 employees and their willingness to trust insurance salespersons? There's been a number of small victories, here and there, but it's slow going. Yes VOYA and NLG have the upper hand now, and you will need to be thorough and patient. Many posters have reported on their experience and that can be helpful. We can help you understand the transfer form if you'd like. Of course calling the companies with questions is always a recommendation. You might find it useful to join the 403bwise Facebook Group. It's full of folks that have dealt or are dealing with transfer forms. I don't use FB, but do participate in this very useful Group. You can see info on the Group with a sticky at the top of this forum's intro page.
  9. Good luck! I think the Roth IRA transfers will be smoother than the 403b transfers to SB.
  10. Step 2 on the SB Direct Invest Incoming Funds Request says: “2. Please contact your current carrier for any form requirements it may have for transferring money to another company. “ This is critical to moving your balances from VOYA and National Life Group. The transfer will not happen unless the transfer forms of VOYA and National Life Group are completed to their satisfaction. After receiving the forms, you will need to talk to them about their requirements. They will not accept SB’s transfer form as sufficient to make the transfer. Other posters have found that annuity company transfer forms can be a serious challenge. They have parts to be filled out and signed by you, and a part to be filled out and signed by Security Benefit, and a part to be signed by your district's TPA, all done in the correct order. Let us know how it goes. Discussing your questions may help other posters in the future.
  11. They are not phasing out 500 Index, just eliminating the Investor class. Everybody gets to use the Admiral class. You do have a choice, don't you.
  12. If you look at the Quarterly Performance page, you'll see that they are using the Admiral class for both 500 Index and for TSM. I think the rep you talked to is incorrect.
  13. Thanks for the info on the plan #. As for the Admiral class of the 500 Index fund, you can only choose funds that are on the SB list for NEA Direct Invest. However, instead of using the 500 Index fund, which only covers large cap stocks and some mid caps, we suggested you use the Total Stock Market Index fund. TSM covers large, mid and small caps---the whole US stock market. It's more diversified than 500 Index, which is desirable. In the past, SB used the Admiral class on TSM. The Vanguard website says that they have done away with the Investor class for Index 500 and TSM---they only use Admiral class now?
  14. Was there an indication that the TPA used the same plan # for all the Security Benefit options? Or did NEA Direct Invest have its own plan #? Getting the plan # has been an annoying snag for many folks who were the first in their district to choose NEA Direct Invest. I think that Security Benefit's Salary Reduction Agreement (which includes the TPA's plan #, is only of use to Security Benefit if the district/TPA has their own. At the bottom of the SB form, it says to mail or fax it to them.
  15. That's great that you got the plan number. Did you get it from the TPA? I guess you also sent the Salary Reduction Agreement to Security Benefit as required? Have you asked for the district's own SRA from the TPA? That's the one that will be required by the school/TPA.
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