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Luisa

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  1. Luisa

    Help!

    In as much as I want lower fees, I am unsuccessful with SB DI when I tried to do the paperwork 😞 In my experience, Aspire is clear and straight forward on telling me what I asked for. The application and agreement form is clear enough of the choices if self-directed or with financial advisor and the fees are well stated. Even the our district website, a note from Aspire states that participants can self-select or work directly with their financial advisor. Thanks, Ed for sharing Rule 72t. Good to know that I have this option in case of early retirement. Thanks again, Ed. I appreciate you for writing the specific contribution limits for each plan. I am far away from maxing out due to other financial responsibilities. Now, I am undecided which one to get 😞
  2. Luisa

    Help!

    Hi Techteacher! Glad to see Maryland teacher here... After Krow mentioned the 52k maximum (starting at age 50), it's clear now in my head when you said "maxing both" 😉 Well, I am far away from doing that 😞 but willing to make plans and adjust to reach that goal...
  3. Luisa

    Help!

    Yes, I recently joined the 403bwise FB group. Though I am not frequent FB user, it's easier to share the information with my teacher friends. Good to know that I can contribute up to a total of 52k at the age 50 (I know I could contribute to both 403b and 547 plans but not sure if the maximum amount is split up). Obviously, I am not maxing out my contributions to both plans. The link is so much useful. Thanks once again!!!
  4. Luisa

    Help!

    Hi Krow! I am planning to go to Aspire. I guess, SB DirectInvest has lower fees but it's not offering 457 as I read in the previous posts here. Yes, I am satisfied with phone service of Aspire and it's offering limits to mutual funds only. Aspire is easier to recommend to my teacher friends who wish to get new 403b/457b or get out of the high fees from other vendors. As I read in other posts, some may get confused and avail the annuities from SB instead of the low cost mutual funds under DI. I prefer to get 457 for following reasons: 1) I may retire early and no need to wait for 59.5 age to get distributions without penalty or 2) I may contribute more 3 years prior to my normal retirement age to catch up with missed contributions in my younger years. Am I right in my understanding of 457? Yes, I am getting the Vanguard funds under Aspire. I am already familiar with Vanguard funds because I have them for my Roth IRA. More than 10 years ago, I found out from this website that we could contribute to both 403b/457b and Roth IRA using low cost funds, like Vanguard and Fidelity. Again, thank you for the advices... As per advice, I would leave my previous contributions to 403b to Fidelity. Another thank you!!! P.S. To add to my story, my friend suggested a book about finances but it was not suited to me, so I looked for one for teachers. I got "Teach and Retire Rich" by Daniel Otter. Then, I found this 403b website while reading it. I made my 1st inquiry and got lots of responses... After more than a decade, I am posting again to ask for help! Thanks a million, Krow!!! We appreciate you, together with good hearted people here, for taking time to answer our confusions. I wish we will be able pay it forward.
  5. Thanks, krow36 for this info. This helps me to consider my option for providers under 457.
  6. Luisa

    Help!

    Thanks, Krow! More options for me to look into...
  7. Luisa

    New TPA

    Thanks, JC! With these information, I am now studying the application and agreement form of Aspire
  8. Luisa

    Help!

    Thanks for sharing your story, EdLaFave! I do admire your hard work and perseverance in getting the NEA DirectInvest to work well on your part. As mentioned in earlier post, it's hard to get in touch with Security Benefits. Well, I am still in the process of comparing my options.
  9. Luisa

    Help!

    I made several inquiries but could not be answered by the people I talked to at our new TPA. In my frustration, I stopped my contributions at the early part of last year. Thus, "grandfathered in" is no longer applicable.
  10. Luisa

    Help!

    Yes, it is good to be back Krow36! 403bwise is blocked in our school wifi since last year. Thus, I have to get home to do more reading, unlike in the previous years that I was always taking a look at the posts whenever I wanted to take a break from grading papers and doing lesson plans. Thanks for the suggestions. I contacted both Aspire and Security Benefits. True enough, I was able to get in touch with Aspire after 3 phone calls but never got any response from Security Benefits. I need to read previous posts here to compare. Anyway, I teach at one of the Maryland public schools. Do I have access to a low cost state run 457 plan? I am new to 457 but as I am reading posts here, I am getting more interested with it as I can see the advantage on my part.
  11. Luisa

    New TPA

    Hi JC! Thanks for the reply. No, I was given letters and emails that I could not continue the contributions at Fidelity. I made several phone calls to confirm the content of the letter but got surprised with the advise to rollover with any of the existing approved vendors listed above, which I will not do even there is 3% bonus. Does Aspire have mutual funds? How much does it charge? I am trying to avoid high maintenance fees/charges as much as possible.
  12. Luisa

    Help!

    Hi! I am a silent reader here as this is my 2nd post since my 1st more than 12 years ago... I am really enjoying and learning a lot from posts and stories of teachers here. I thought I was in good place till something happened. Last year, our school district changed 3rd party administrator (TPA) from TSA to Omni. We used to have Fidelity but no longer available now. I will not touch my 403b at Fidelity, leave it there until I retire. Is that ok? I am also making Roth IRA contribution to Vanguard but still want to continue 403b contributions (or make new 457). However, I am now lost which one should I get. Here are the choices left for me 😞 MetLife, AXA, AIG, American Century, Aspire, Forester, Oppenheimer, Lincoln, Voya, Waddell, National Life, Security Benefits, PlanMember Services I prefer to have mutual funds but most of the companies above are offering annuities ;-( Please help! I would appreciate any advise you would give... Thanks, Luisa P.S. I was at Metlife 12 years ago but reading a lot here made more confident to transfer my account to Fidelity (per advise by expert good hearted people here)
  13. Luisa

    New TPA

    Hi! I am a silent reader here as this is my 2nd post since my 1st more than 12 years ago... I am really enjoying and learning a lot from posts and stories of teachers here. I thought I was in good place till something happened. Last year, our school district changed 3rd party administrator (TPA) from TSA to Omni. We used to have Fidelity but no longer available now. I will not touch my 403b at Fidelity, leave it there until I retire. Is that ok? I am also making Roth IRA contribution to Vanguard but still want to make new 457 contributions. However, I am now lost which one should I get. Here are the choices left for me 😞 MetLife, AXA, AIG, American Century, Aspire, Forester, Oppenheimer, Lincoln, Voya, Waddell, National Life, Security Benefits, PlanMember Services I prefer to have mutual funds but most of the companies above are offering annuities ;-( Please help! I would appreciate any advise you would give... Thanks, Luisa P.S. I was at Metlife 12 years ago but reading a lot here made more confident to transfer my account to Fidelity (per advise by expert good hearted people here)
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