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Everything posted by markeichenlaub

  1. He's fantastic! And I get it being right in the middle of all that.
  2. Thank you all so much! Wouldn't have been possible without this forum.
  3. Good, that is who I think we are going with.
  4. Call their main headquarters, NOT your rep. Your rep has much more motive to put the brake on this. I did this with another company and it was much less hassle. You could also try Googling the form under various names and just doing it that way to avoid this.
  5. You are right about a growing number of teachers heading for the hills. To many, another profession might feel like retirement because of the drop in stress level. Thanks for sharing your story.
  6. Your story CONTINUES to be amazing Steve! The fact that you started late and still did it is what is really fantastic.
  7. Ha, I think I could "adjust" to the time but I could be wrong.
  8. Interesting. If you can manage to live on 50% of your income though I think it is doable. Sounds like they've got enough to live on for a while as well.
  9. Regretting it because she misses teaching or because she retired without enough money saved?
  10. Yes, please post that! Was Fidelity already an option or did you need to request it?
  11. It's a tough call and something a CFP is great for helping determine.
  12. We are in pretty much the exact same position. It took a WHILE to get others on board.
  13. You are REALLY fortunate to have Fidelity. I didn't check the other posts yet but I'd switch to them.
  14. Thanks Moe. So the Asst. Supt. for Business just single handedly makes the decision after a brief talk with the union head? This is NOT a small decision! Can you maybe talk to the union president who I know you said is busy but have a quick presentation ready? I am creating a pdf that is like a 2-3 page quick overview of how and WHY to switch if you'd like it. Can you also present this to the Asst. Supt. for Business? I'd not try to come off as a "know it all" but say you've done some research on this and were hoping he could please consider this option. Acknowledge that he is busy (because he is). Regarding the hold-harmless agreement did the other providers all sign one? Who did you ask at Vanguard to sign it? Why won't they?
  15. Thanks Moe, so you asked how new providers can be added and were told that it happens in the summer? Is there a committee that does that or just someone at the district office? If there is a committee can you join it? If it is someone at district can you arrange a time to talk to them face to face and plead your case?
  16. Thanks Tony. I don't want to throw anyone under the bus or get my expectations too high and don't want to say too much publicly but will keep you posted. I'd love more info on Aspire as it becomes available too.
  17. Also, my TPA told me twice now that we can directly add Vanguard and it's now with my district office being determined so it's somewhat out of my hands again.
  18. Thanks Tony! I actually am trying for Vanguard at my school but will have a list of options that I'd recommend and Aspire will be there (maybe you can email me more details). There will be a series of steps for teachers to try to break through the walls and having Aspire as a "magic bullet" for teachers to use against those special interests that love getting in the way would be fantastic! This will DEFINITELY not be a program for everyone. Even where I work I had to do classroom visits to a LOT of teachers but I guess I was lucky enough that a lot of teachers know (trust?) me and knew I'd done the research on this and agreed to switch providers. If only some teachers can take advantage of this I'll be thrilled and it will require something significant for many to wake up and/or care.
  19. Mark, Ambitious plan but a worthy one. I'm with you, but this is my understanding of the "cause". I believe that because of the regulation changes of 2012 (I think it was 2012) many school districts insisted on using a TPA, such as Omni - I understand there are numerous TPA's - and they effectively washed their hands of adding ANY fund providers, such as Vanguard and Fidelity. They say it's because the IRS is capable of scrutinizing the district record-keeping and they don't won't that responsibility. And if Vanguard and Fidelity aren't willing to pay into the TPA's, or pay those fees that get passed along to contributors like us somehow, then they won't be added on Omni (TPA's) preferred vendor list. I followed your outlined steps above, even opened up a Vanguard 403b account, only to be flat-out denied the exchange/transfer by Omni. Aspire is an aggregator, (Mark has been on here and an informational podcast) and offers a close-as-we're going-to-get solution. So I'm curious to what YOUR roadblock could be with your business office/district staff. That was mine, and they make it sound end-all/be-all/ no way around it. We have the 457b in my district and trying to get some of our teachers to even switch from the bad 403b providers to a low-cost 457b plan is ridiculously difficult. I bet the 403b sales reps are even advising them against it. (Like my Ameriprise advisor did.) Our job as teachers leaves little time for embarking on something that is potentially time consuming. (Preaching to the choir here.) Omni's position would be informative, but why would they advocate adding the low-cost providers when they aren't going to pay them? That said: keep advocating and documenting! We are listening, and even if not today, then someone else will read this next week, or next week and learn! I keep feeling like I am missing something. Thanks Moe! Can you tell me a bit more about what you mean Omni "denied" you? What did they say? What was their rational?
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