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  1. Here is the latest communication: Me: Thank you Matthew for your prompt response. I am only interested in an AIG custodial 403b/457b account at this time. Is the non-annuity option available for me as an sccpss employee at this time and/or can that option be added? Thanks again for your help. Matthew: Hi the only option available thru SCCPSS is the annuity option. It is very similar to the Mutual Fund option and actually has 72 different funds to choose from. Let me know if you’d like to meet and discuss your options?
  2. So here is the communication between me and the Valic rep: Greetings Matthew! I have contacted you in prior years to inquire about investment options. Thank you for answering all of my questions! I currently have a question listed below: Does Valic (AIG) offer a custodial account that allows a Group Mutual Fund Product (GMFP). It has an Admin/Wrap fee of 0.0% to 1%, determined for each district. I understand there is no surrender fee with this product. If this is an option, what is our district's wrap fee and is it offered in the 457 and/or 403? I look forward to hearing from you. Thank you so much! The Valic rep's response: Thanks for the email- So the group plan for SCCPSS offers either a Traditional/Roth 403b/457b account. The funds available to invest in are annuity based that typically have an expense ratio of 0%-2.02%. Most companies have at least a 5 year surrender period but some companies are longer. I’d be happy to set up a time to meet with you and discuss all of your options- My cell phone number is xxxxx Talk to you soon- Matt So looks like the GMFP is not available? Only an annuity product...
  3. 🤓 Thank you Thank you krow36!! I will post how it goes...
  4. Thank you so much Krow36!! I now have a homework list... I am going to contact the Valic rep and ask about the GMFP and the admin/wrap fee. I will then contact my district HR contact and inquire if there is a TPA. If not then I'll work on the individual (s) in charge at the district who can possibly give me information on how to add (preferably) Vanguard, Fidelity and Aspire. Our district is the oldest in the state (and possibly one of the oldest on the east coast). They tend to move slowly on things and they have lots of "friends" who know other "friends" who sell things.... I will keep you posted!! Thank you so very much again!!!
  5. Thank you krow36!! I have a Roth with Vanguard and just opened an IRA with Merrill Lynch (to keep my preferred rewards with BOA). I have about 17K in the Roth in Vanguard 2040 target fund (VFORX)... I love Vanguard and I so wish that my district would allow them in. I am late in the retirement game so I can contribute more to the IRA this year (over 50 now) . I need some of my income to go somewhere pretax (making more this year due to higher pay). I have student loans and I am counting on PSLF (9 years to go!)... I am trying to keep my AGI low so that my student loan payments remain low (I'm in an income based repayment plan). Home is paid for, small auto loan, I pay off my credit cards each month. I have rental property that helps to offset some income but not my earned income. I expect to work at least 15-17 more years (hopefully) and I have 13 years in the GA TRS system. Looks like I have homework! I looked at some of these vendors several years ago and did not like what I was looking at so I walked away and began contributing to my Vanguard Roth... now I need some pretax relief but I don't like these choices at all. I will continue to contribute the full amount each year to my new IRA $7000 for next tax year. I just wanted to take the pretax advantage of a 457 or 403b and it's still looking expensive ... thank you again!!
  6. Thank you for responding profinGA... I edited the post so y"all can see my choices... hopefully the link will work. Thank you again!
  7. I am in my 8th year of teaching but I have 13 years in the GA system. I need tax breaks by contributing some pre-tax $ to a 457 or 403 and my choices do not appear to be good. I've already fully funded my own IRA/Roth for the year but will need further tax breaks for this year (and need to invest more!). I am not eligible for the HSA (I have an HMO plan with a deductible that is $50 over the minimum to have one- grrrrr) I have tried to avoid these plans until now. Teaching is a second career and I'm late to the game but I do not like what my system has to offer. Which one would be the least costly? What are my options for low cost pre-tax investing without getting ripped off? Any advice is greatly appreciated! I am in the k-12 public ed system of GA. I work in the Savannah Chatham County Public School System. The choices are: (ING) VOYA Administration Fee No Administration Fee Surrender Fee 5% scale down to 0% after 10 years Commissions 4% Great American (what is this?) Administration Fees 0.15% Surrender Fees 5% scale down to 0% after 5 years Commissions Variable - .5% to 1.10 VALIC Retirement Administration Fees $0 Annual Fee Variable Fund Fees – 1% to 2.02% Surrender Fees *Lesser of 5% of amount withdrawn or 5% of last 60-month payments Commissions Up to 3.2% on 1st year contributions, up to .75% thereafter Horace Mann Administration Fees $25 per year if balance < $25K; M&E Fee = 0.85% Avg. operating expense = 0.40% (Vanguard funds range from 0.05% - 0.16%) Surrender Fees *5% for first 5 years, 0% thereafter 20% “Free Out” provision for each year of your certificate Commissions Retirement Protector - 5.25% on 1st year premium for flexible contributions, 2.15% for lump sum rollover National Life Group / Life of the Southwest (Life insurance? Annuity?) Administration Fees No Administration Fees Surrender Fees *10% from date of issue, decreasing 1% each year Commissions 6% on 1st year contributions, declining each year thereafter Bonus 5% bonus for every contribution made in the first 7 policy years Below is the link... https://drive.google.com/file/d/135Mpd_iXUZRZZXM6oGXgCzClk3PBiDW3/view?usp=sharing
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