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Everything posted by tormund

  1. So I figured that the 403b vendors is some secret list. I found an old email that lists the vendors. You can change them on the PennServ website for SC PEBA employees. The vendors are American Funds, AXA Equitable, Horce Mann Insurance, Metlife/FASCore, Reliastar Life Insurance, VALIC/AIG, Voya Retirement Insurance and Annuity Company. Looks like all annuities for some reason. We've stopped contributing to the 403b since we can contribute to state DCP with empower for their 457 and 401k. We've been told by the district that my wife can't move her 403a funds (state ORP) out of open season. So she was able to move her contributions to TIAA, but she has to wait until JAN to move the funds since she didn't check the right box. We were under the assumption that the state ORP vendors (VALIC/AIF, TIAA, Metlife, and MAssMutual) all had 403b options. But as I stated before, they don't. I was able to cancel the guided professional services with VALIC which was 0.4% a year, and move funds from the 8 random ones they had her in for the 401a to VINIX, VSCIX, VEMAX, and VBTIX with low ERs. The best fund I could get with VALIC for the 403b has a 1.4% expense ratio for the VASGX (Vanguard LifeStrategy Growth Fund). We're going to email all the 403b vendors to get fund options and I'll report back. Right now we're putting most of our funds towards the empower 457. But would be nice to get the 401a moved to TIAA so we don't have two 401a accounts to manage and to get the 403b somewhere with lower ER. Looks like as you all stated, I'm stuck with 403b and can't move it to 401k or 457.
  2. My wife was with Valic for the State Optional Retirement Program (ORP; 401a) and also she opened a 403b with them. I found out they have her in managed/prferred services with extra fees and in annuities and stuff after we got married. Later she opened a 457 and 401k for the state deferred compensation plan (DCP) with Empower Retirement and we got into funds with low fees that we self manage. Finally she switched from Valic to TIAA during open season for the 401a. There are also lower fee funds here than with Valic, and it's self managed. So she's contributing right now to TIAA 401a, Empower 457, and Empower 401k. This is great, but I want us to move existing money to minimize the admin burden of monitoring fees, mistakes, etc. She's getting the run around on moving funds out of Valic. Empower is saying they think you can't rollover anything unless you meet certain criteria. They said SC Public Employee Benefit Authority (PEBA) has certain rules. I know the IRS allows you to move funds between administrators. Also she said one of her school admins says you can change contributions amount but once a year. We should be able to move the 401a funds from Valic 401a to TIAA 401a right? Can we move the Valic 403b to Empower 457? If not, what about moving to the Empower 401k? If not, what about the TIAA 403b? Can employers limit you to only changing contributions once a year to retirement plans?
  3. Just thought I'd post this here for the options for the State DCP 457/401k. Seems that VIIIX and FIPDX are the typical stock market and bonds with low expense ratios. International doesn't seem to have a good equivalent to VTIAX though. Working on getting account setup now for spouse.
  4. I'm trying to get info from the Charleston school district, but it's slow going to get a list of providers. Spouse is currently with Valic/AIG in a variable annuity for her 403b. Apparently they have a fixed annuity product. I asked about mutual fund group product, but the financial advisor didn't clarify in the email that they didn't have one so I'm assuming they do not. One of my posts on Bogleheads I came across someone who seems to indicate their spouse's 403b is with Vanguard, so I'm hoping they have a mutual fund account type. I will be calling PenServ who handles their 403b administration for more info, but figured I'd reach out here to see if anyone has any info right now. Side note on the 401a (State ORP) plan. They have 4 administrators. I think we'll be switching from Valic/AIG to TIAA I think during open season in JAN-FEB due to fees. Other options are MassMutual and Metlife.
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