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lausdfred

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    fredhirz@yahoo.com

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    Pasadena
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    theater, travel, golf
  1. Yes it does probaly. You can max out both. Also look into the catch-up contributions you can make after 15 years of service. Get a roth too.
  2. Thanks Steve, I do plan to roll over to Vanguard. I thought I heard/read somewhere that in the case of a law suit they can take your IRA but not a 403b.
  3. I am referring to the ERSIA laws.
  4. I'll retire in 13 months and would like to transfer my funds to Vanguard. The question is would I lose any protection I currently have if I leave my 403b
  5. Is there any news reguarding the addition of vendors?
  6. Tony, I want to do somewhat of the same thing. Roll over my 403b into a Vangurad IRA when I retire. My only question is does the IRA have the same protection under ERISA as the 403b? ie. in the case of a catastrophic law suit.
  7. 15% Capital gains rate will expire or be repealed no later than Dec 31, 2010. Why do you believe that 403b income will be taxes at a higher rate upon withdrawal since tax brackets are adjusted for inflation and most retirees will have lower amounts of income in retirement?? Why is paying taxes twice, first the income tax on wages and then capital gains in retirement better than deferring all taxes until retirement so that the entire contribution gets the benefit of tax free compounding until distribution? The monkey wrench is what our personal income tax rate will be in our retirement years. It has to go way up to pay all the bills the government has run up. I think capital gains taxes will continue to be less than personal.
  8. Do you mean you only have 5 funds within Fidelity to choose from! At lausd we could choose from ALL of their funds. I'm still hoping they will sign in the 1st Q.
  9. I was emailed a letter form benifits yesterday saying that Fidelity and a few others (insurance companies )were being considered. In researching my choices I spoke to a rep at tiaa-cref who told me all of thier funds were avalible to us at the normal fees. I asked if this for sure applied to lausd and he said yes. The site shows great choices, life style, etc. and they act like regular funds but you have the choice to annuitize at the end of contributions. He also said we could choose other funds but .33 would be the advisor fee. This fee sounds similar to Calstrs Pension2 but if you go with Calstrs you pay .33 on top of the tiaa-cref fees if you purchase them in Pen2. If all of this is true I will want to go w/ tiaa-cref and stay there. If we indeed do have access to all of their funds.
  10. Tony, Good article, it gets me thinking. Would you or anyone here recommend going with a taxable account rather than continue with a no match 403b. And I'll bet you anything the personal rate will be higher by the time I retire!
  11. Why did lausd make this deal w/ the aig/valic devil in the first place? Did the district let them have a monoply on the 457 in exchange for administering our program? If so how could we let his happen.
  12. That is my next deduction date. Ye, I saw that too and it seems contrary to the rules when I first set up my account. DaveG, Thanks for the research. I plan to stay w/ Fidelity. There could be many devious reasons why lausd left this info off the letter they sent. Maybe we should be ready to fight it if they try to stop it. But I think our chances are at least 50/50 since it is on the web sight.
  13. Dave, I ran a 403bcompare between Pension2 and USAA. It looks like Pen2 has some form of admin. arrangement with Tia-Crf. We are also offered a variable annuity product directly through Ta-Crf also. The only differance I saw with Pen2 is they have no MM to park cash in and USAA has a lot more funds to choose from all be it w/ higher ER's, no load or fees though. The 403bcompare on tiaa did not list the products just the fees: Admin. .23, Mortality .01, Invest. Advisory .12 and 12b-1 .05 It said to go to their site for more info but it was not forthcoming there either so I asked for a prospectious.
  14. I just checked my lausd personal retirement site. That's where you change vendors, contributions etc. It had my next deduction date as 1/4/08, listed the new vendors and at the bottom of them showed I was in Fidelity 100% with a notation (3) it was grandfathered. Anyone else seen this that has Fidelity? How could this be w/o signing the new agreement. Now I think I'll just wait and see what happens.
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