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Tom F

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  1. Are 403B and traditional IRA limits independent of each other? Can I contribute to both, or if I have a 403B am I not permitted to use a traditional IRA?
  2. I asked a local "financial advisor" if they new any fee only (hourly) financial advisors in my community. There response confused me. "No, to my knowledge, I do not know anyone operating like that. Very recently, FINRA and the Department of Labor have really cracked down on advisors not operating according to a Fiduciary standard, thus, I would imagine, anyone who would have been charging like that has had to change their structure. It is difficult to be a fiduciary and offer one off advice. Locally, I have never known of anyone to. In the current regulatory environment, it would be difficult for a licensed individual to do. I thought the fiduciary standard was driving advisors away from commission based structure and to more transparent fee based model. Is this not the case?
  3. Sorry to post this here but the contact form on the .com and the .org form seem to be broken.
  4. I am one of only 2 employees putting money into a 457 in my school corporation. I am wondering why they are so underutilized. Why would we not encourage new teachers to put half of their savings in a 403B and half in a 457? In the event of a career change, they would have access to the 457. It would seem like an additional emergency fund of last resort. It might also get them to save more knowing that the money is not locked away until they are "old."
  5. My wife's school does not currently offer a 457. She is making the case they should add one. We are trying to anticipate any roadblocks. Number one coming to mind is costs. Do most providers of 403B plans charge extra for adding a 457 to their offerings. I am assuming they would have the same mutual fund options, just allow employees to contribute to either plan. We are in a state where we only have one plan to choose from (chosen by a school committee).
  6. I teach in Indiana and had a question about contribution limits. I understand that both plan types have limits. What I am not sure about is if those limits are considered separate or if they are combined. In other words is my total contribution limit $19,000, or could I contribute $19,000 + $19,000 = $38,000? Also a related question. If I am putting $6,000 in ROTH IRA with Vanguard do I need to subtract that from my 403B/457 limits? $19,000 - $6,000 = $13,000?
  7. yes, I caught that mistake as well. I have Lincoln Financial. My understanding is that I am not investing in any annuities. I have a variety of funds, 5 of them are index from Vanguard and DFA. Lincoln hits us with an annual custodial fee of about .35% otherwise all the funds I am looking at are very low in fees.
  8. Afraid we are not on the 457 list. We are both public schools. School along with union picks a single provider. I am with Lincoln and she is with Nationwide. As you can see with the list. She does have a single Vanguard option, but they hit it with a big add on fee to knock down the savings.
  9. I am in Indiana. The two schools that my wife and work for both have a single provider.
  10. Through my wife's school we have Nationwide through a third party. We currently max out our ROTHS and go beyond the match on our 403B. My employer has a slightly better plan. We are considering putting extra money into mine instead of her plan. I thought I would see what everyone thought about the Nationwide offerings first. Fund Name Net Expense Ratio AMC/Net Asset Fee Total Fee PIMCO AllAsst AllAthrity A 2.74% 0.35% 3.09% GdmnScs SmCap Val A 1.34% 0.35% 1.69% TRowePR Mdcap Gr R 1.27% 0.35% 1.62% Okmrk Intl II 1.22% 0.35% 1.57% Loomis Bd Admn 1.16% 0.35% 1.51% Okmrk Fd II 1.14% 0.35% 1.49% Cariln Eagle SmCap Gr A 1.08% 0.35% 1.43% Harbor Cap App Inv 1.03% 0.35% 1.38% FidAdv Free 2040 A 1.00% 0.35% 1.35% FidAdv Free 2045 A 1.00% 0.35% 1.35% FidAdv Free 2050 A 1.00% 0.35% 1.35% FidAdv Free 2055 A 1.00% 0.35% 1.35% FidAdv Free 2035 A 0.99% 0.35% 1.34% FidAdv Free 2030 A 0.95% 0.35% 1.30% FidAdv Free 2025 A 0.91% 0.35% 1.26% AmFds EuroPacfc Gr R6 0.49% 0.75% 1.24% FidAdv Free 2020 A 0.86% 0.35% 1.21% MetWest Ttl Rtn Bd I 0.45% 0.75% 1.20% FidAdv Free 2015 A 0.82% 0.35% 1.17% FidAdv Free Inc A 0.72% 0.35% 1.07% BlkRk Low Dur Bd Inv A 0.66% 0.35% 1.01% Vngrd MdCap Val Indx Adml 0.07% 0.75% 0.82% NW Gov Mny Mkt R6 0.44% 0.35% 0.79%
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