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ClarkandAddison

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  1. In Indiana, most public schools are part of school corporations instead of school districts. Not sure if there is a difference other than the name.
  2. I talked to another person at Fidelity today (they finally returned my message). This one didn't mention anything about having to have at least 10 members and $1M transferable assets for Fidelity to be interested. This guy said at this time Fidelity is not interested in being added as another choice for our 403b list. He said if we were able to get Fidelity as the only vendor for our 403b, then they'd be interested. I'm thinking that it's just not worth it to them to bother with our small corporation. From another teacher in a neighboring state that I talked to that went through this process a few years ago, Vanguard was going to be more expensive for his school district, which is why I had been focusing more on Fidelity than Vanguard. Looks like my best bet is to go through the trouble of trying to be the first person in our corporation to use NEA DI.
  3. Thanks for the contact info Ed. I actually got a response when using the Fidelity number you listed. I was told we would need at least 10 participants and at least $1,000,000 of assets transferred to Fidelity for them to be willing to be one of our 403b vendors. We are a small school corporation and I think I could probably come up with 10 participants (it would take some work to convince even 10), but I don't think I could get 10 convinced that have a total of $1M invested to transfer to Fidelity. Looks like it's on to NEA DI.
  4. Few more questions. Background--My 401a is currently with Security Benefits. Our school corporation pays a 1% match into the 401a and that money has to go to Security Benefit, we don't get a choice where this goes. Not a huge deal as it is a small amount of money. My current 403b is with Horace Mann and in a traditional 403b (as opposed to a Roth 403b). 1--If I open the NEA DI 403b, will I be able to rollover my current 403b to NEA DI as a traditional 403b even if I open the NEA DI 403b as a Roth? 2-- If I can roll my current 403b to NEA DI, will I be able to see both accounts (the traditional rollover and the new Roth 403b) from the same login page? 3--I assume this would be no, but would my 401a with Security Benefit be visible from the same login as my new 403b that I'd like to set up? Thanks for any help.
  5. Thanks Ed. I think I'll probably end up with NEA DI. I've not been able to get anyone at Fidelity's 403b sales department to return my calls. Thank you for sharing your experience. I'll report back with my progress.
  6. krow36, Thanks for the information. I'm waiting to hear back from Fidelity on information that I can take to our central office in an attempt to get Fidelity added as a vendor. I am in my 16th year teaching and have always just put a little into my 403b because of the perceived poor options (before looking into NEA DI). As a family, we have finally gotten to the point where we can max two Roth IRA's, an HSA, and a 401k, which is why I'm now looking to increase my 403b contributions. I've been following the Boglehead investing philosophy for years and will definitely be sticking with low cost index funds (like in msucurt's thread) regardless of whether it is with NEA DI or Fidelity. I teach in Indiana and do not have a 457b available that I know of.
  7. Thanks for the information Tony. If I can't get Fidelity added, I'm going to work on joining NEA Direct Invest. I would be fine with Vanguard being added to our vendor list, but from what I've been told by someone who went through the process of trying to add Vanguard to his school district's list, Vanguard was going to cost the district and Fidelity wasn't, so he ended up getting Fidelity added as a vendor. If I am successful at getting Fidelity added, I'll definitely take your advice and only invest in the index funds as that's what we use for our IRA's (Vanguard) and my wife's 401k and my HSA (both at Fidelity).
  8. I am wanting to know if you have to be an NEA member to be eligible for the NEA Direct Invest with Security Benefit? Security Benefit is one of the three approved vendors for our school corporation (along with Horace Mann and Lincoln Financial), but I am not an NEA member. As well as looking into the NEA Direct Invest option I am attempting to get Fidelity added as an approved vendor for our school corporation. Hopefully I can make this happen as I don't necessarily trust Security Benefit or the NEA. There are currently no NEA Direct Invest users in our school corporation, which is part of why I have decided to try and get Fidelity added as a vendor. I figure it's going to take some work either way so I might as well shoot for Fidelity and hopefully have SB NEA Direct Invest as a backup if needed. Thanks for any information.
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