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edietel

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About edietel

  • Birthday 03/27/1985

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    New Hampshire
  1. Would it be helpful to, perhaps, think about it this way: the cost of your trip will (almost certainly) be less than those crooked salespeople would have taken from you, had you not changed how you invest. In other words, had you stayed with them, they would have been taking a European vacation on your dime. It's time you reward yourself for years of good choices!!
  2. I love your hatred of paywalls :-) Thanks Tony!
  3. I would love to know what other people think about this. In short, I don't know. I didn't get Vanguard added at my district - it was already there when I got hired. But, while other districts are dropping them, it doesn't appear to be going anywhere. It's my understanding (based on what others have said in other threads) that OMNI will add vendors if the HR folks ask (insist?) that they do so. If paying an extra fee is the reason a district doesn't want to add them, they can simply look to my district and see that it can easily be passed on to the employee with no added hassle. If it's true that HR just needs to speak up, then "simply refer[ring] such requests to OMNI" is an admission that they don't want to deal with the hassle. This is why some people have gone the route of getting signatures from colleagues who want the vendors added and pledge to use them when they are. The HR folks are busy (aren't we all?) and might not want to take on extra work to appease one frustrated teacher. If only they knew that adding a low cost option like Vanguard would also benefit them... I hesitate to defend OMNI, but they probably cannot act unilaterally to make changes. That has to come from the school. They could certainly be more transparent and helpful, though. Does anyone else on here have experience getting their districts to make changes to OMNI offerings? How did you facilitate that?
  4. Who are these "Rolling Stones" that you speak of? ;-)
  5. Hey Teacher88, Yes and no. You can check out what my district offers here. If you'd rather cut to the chase, I'll attach a screens of the list below. There is a lot of garbage in there, with some pretty good options as well (Aspire, Vanguard, TRP, TIAA). You won't find anything anywhere that says there is a $3 monthly fee to use Vanguard (trust me, I've looked), but my first contribution every month is $3 less than the second one. When I contacted my Human Resources Manager about the fee, she told me that it happens to her as well and she was surprised just like I was. Vanguard knows nothing about this monthly deduction, so it seems pretty clear to me that OMNI is taking that $3. Like I said, I've heard enough people on this board say they would be happy to pay to use Vanguard that I am feeling fine with it. Damn the torpedoes, right tony?!? If there is anything I can do to help you get Vanguard on the OMNI list in your district, just say the word. If there is any push back in your district or with the folks at OMNI about adding it, you can let them know that Bedford School District in Bedford, NH has figured out how to do it, and it doesn't cause headaches for anyone (unless losing 3 bucks a month gives you a headache...) Good luck!
  6. My district uses OMNI, and we have Vanguard on the list. One of my contributions every month is $3 less than the other, so I assume that the fee you are mentioning is being passed on to me. I am happy to pay it. I recognize that this is not helpful to your situation, but I hope it is helpful to know that there is precedent for getting done what you would like to do. Let me know if there is anything I can do to help.
  7. Nope. It was a choice on the list (and still is). I had no idea OMNI would take $3 out of every other contribution until I noticed it happening and asked some questions. OMNI wouldn't answer my messages, but the HR benefits person for my district did. She is the one who told me where those $3 was going, because she uses Vanguard herself and got to the bottom of it before I asked. I think if the district uses OMNI and asks them to add Vanguard, they will. There's enough of us out there using Vanguard (via OMNI) that it can't be that big of a deal for them. The issue is getting the right person in your district to ask for it...
  8. Whoa, just saw this. Sorry arich! I work for Bedford School District in Bedford, NH. If you go here you can see the offerings for my district. There is nothing written on there about the fees, they actually caught me by surprise. The way this ends up working out (and the way I found out) is one of my transactions each month is $3 less than the other one. Vanguard knew nothing, so the fees were clearly being taken out by OMNI. I've checked with other folks in my building who use Vanguard, and it is the same with them. I'm curious if these $3/month fees will continue with the new record keeping over at Vanguard. I haven't heard definitively one way or the other, but I have my fingers crossed that these will be part of the $5/month new fees...
  9. I just read through your page, Ed. Thanks for passing that along.
  10. That's good enough for me. I've decided to stay with Vanguard. After the switch to Newport takes place (they say it will be later this year), I'll be switching to a stock-heavy 3 fund portfolio that will gradually take on more bonds as the years go by. One question, though: Since many of the big companies in the Total Stock Index are multinationals, do you think it is important to invest in the Total International Stock Index as well? Or is that a bit redundant? I feel pretty good about this. Thanks gentlemen!
  11. No worries, Tony. On an online message board, it is an easy mistake to make. I am indebted to both of you for helping me figure out my situation. Thank you!
  12. Hi Ed and Tony, thank you for your quick replies. I think I am going to make a decision today, and you are both helping me to think it through. Sorry If I wasn't as clear as I could be. Let me take another stab at it: My district uses ONMI as their TPA. I have to go through them no matter what company I choose to invest with. OMNI charges me $3/month to make contributions to a 403b through Vanguard. OMNI does not (as far as I can tell) charge any monthly fees for using the other options available to me (the many predatory high fee companies, but also T Rowe, Aspire, and TIAA). I was more than happy to pay the $36/year last year, especially after seeing how many people were fighting to get Vanguard in their districts who said they would be happy to pay a similar monthly fee to do so. So, no problem there. It has no impact on Vanguard's fee structure, however. Vanguard doesn't get the $3/month - OMNI does. So Vanguard charges me their normal $15/year and the 0.16% expense ratio for the Target Date 2045 fund that I have $2,100 in currently. So, I don't get to choose between the $36 for OMNI and the $15 for Vanguard - I have to pay both. Because the partnership with Newport is going to raise the latter fee to $60/year, I am now busy rethinking my decision to use Vanguard. I am more comfortable making my own investing decisions than I was a year ago. The Target Date seemed like a good decision at the time, and it may still be for the next 20 years. But I am more than happy to change my allocation to other funds. I think it makes the most sense to do so if I stick with Vanguard - why would I choose to pay investor share ratios when I can take advantage of admiral shares of the same funds? Vanguard seems to require a minimum of $10,000 to buy Admiral shares of the Total Stock Index, but it sounds like the partnership with Newport will allow me access to those now. I have no problem continuing to invest pretax and increasing my contributions as my pay increases. I was contributing 5% of my salary last year, and I am increasing that to 7% this year. I love the idea of moving to a 3 fund portfolio, sticking with it through a collapse, and learning how to maintain the portfolio, if it means I can lower my expense ratios. I've spent enough time in these forums and listening to the podcast that I feel confident I can learn the ropes without a large investment of time. I guess this is my issue: Do you think someone in my position is better served paying higher monthly fees for funds with lower expense ratios, or would it be better to pay lower monthly/quarterly/annual fees to switch to, say, a T Rowe Price fund with a 0.76% ER? Thanks to you both - I am grateful for your assistance. Also, I am a man ;-) Erich
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