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  1. EdLaFave: The expense ratios for the funds that Kades Margolis has start at .35% and go all the way up to 2.40% (according to the rep) krow36: I do have the straight pension plan and as far as I know only new employees have the hybrid option. Kades Margolis: https://4kmc.com/mbd/ The website doesn't have a lot of information on it but I've also attached the documents the rep sent me. Horace Mann: http://www.efinancialdocs.com/bowne-prospectuses/ProspectusList?action=annuity&group=1&mode=frame I cannot find the Voya documents for my specific district online but I have hard copies. I will email the rep and see if I can get an electronic version and share it on here tomorrow. Kades Margolis Enrollment Form.pdf Kades Margolis Fund List.pdf
  2. Hello, I posted in late July/early August about the options my district had for 403b providers. I did open a Roth IRA around that time (thanks to those of you who gave me that advice!) but I would still like to open a 403b. After researching the companies, this is the information I have found... Horace Mann Insurance: 1.25% managing fee, $25 a year, no back end charges Kades Margolis: $15 a year and they have 2 "options." One has fees upwards of 5% per transaction and the other is 0.90% per asset. $70 closing fee. (And this is the company promoted by the Pennsylvania State Education Association!) AXA: 1.25% managing fee, a $40 yearly fee (if I remember correctly), on top of all of the other ridiculous fees they have Voya: 0.80% managing fee, no back end charges, and the representative is salary Voya recently became the "preferred" company of my district and apparently they did that by offering such a low fee, but I'm still curious to know if it's a good idea to go through them or if I should still petition the district for better options. Thoughts?
  3. Thank you so much EdLaFave!! You have been an invaluable resource!!!! Thank you for the link MNGopher! I was looking at it earlier but wasn't sure if I should call or not, I'll have to do that soon!
  4. I think I might have answered my own question, but any additional advice on how to go about opening an IRA (I'm thinking Roth) would be wonderful!
  5. Another teacher told me to sign up for an IRA and I have been looking into Vanguard. I'm a little confused because I'm not sure how to go about purchasing a fund or plan or whatever the exact term is though. I am more so digging into each option so that I have the information at hand to share with others. Since it's summer time, I have a lot of free time on my hands haha
  6. Thank you so much! As I mentioned, this is all new to me so I truly appreciate your help!
  7. This is what I found on the Horace Mann website after some intense digging.
  8. Thank you for your opinion and advice Ed. Now I need to do research on IRAs.
  9. EdLaFave - I did find your web site and read up on the information you provide. This will definitely be something I will do my best to pursue. In response to both of your questions earlier, my district does not have 457b plans or employer match. Am I forced to stick with only the authorized vendors?
  10. EdLaFave and MNGopher - Thank you for your responses! I have asked about the 457b and the employer match and will report back. Also, EdLaFave, I am very interested in lobbying the district for better options. Another teacher, who is a dear friend, told me about the AXA adviser and she looked heartbroken when I told her that it probably wasn't the best decision. She is the sweetest person and a mother to all so I would like to prevent others from making the same mistake.
  11. Hello, I am a new teacher heading into my 2nd year of teaching. My colleagues told me to start a 403b last year but I was little too overwhelmed with 1st year teaching jitters to start doing so, but I want to start this year. I met with an AXA adviser yesterday morning and everything seemed to be going fine, I was buying what he was selling, but then he pushed for paperwork with no time to think and alarm bells rang in my head. I decided to do my own research and found this discussion board. It seems like I was right to trust those alarms. I will admit that I have limited financial knowledge and a lot of these terms go over my head (I'm sure google is very curious with my recent searches) but I'm trying my best. I have attached the list of vendors my district provides (I'm not sure if "provides" is the right term). I looked at their websites and I'm leaning towards Kades-Margolis because they're sponsored by the Pennsylvania State Education Association (union) or Horace-Mann because I believe that's where my mom has hers. Also, and this might be a silly question, but what is the purpose of the Third Party Administrator? Any and all advice is welcome and appreciated! Thank you!
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