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lacontessa

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  1. Apologies for cross-posting, but, not sure whether folks visit both the 403b and 457b sites. Hi. New to academia and have been putting the max into my 403b and 457b options. Since I had so little time to go over the benefits information before starting the new job, I had a fee-only financial planner review everything (it was over 1 foot high). They suggested Valic for my 403b and Pebsco for my 457b (the only vendor who offered the 457b at the time), and TIAA-CREF for my employer contributions to my retirement (Optional Retirement Account). A year later and now Valic, TIAA-CREF, ING, and American Century all offer the 457b. Last Fall, to simplify things and follow the financial planner's advice (she liked Valic better than Pebsco), I signed up for the Valic 457b. Reading the morningstar discussions and these discussions, I spent several hours yesterday trying to get a handle on the fees I have been paying. Although the Valic representative said he didn't know when I asked him, the performance results before and after taking into account management fees suggest that the fees range from 4-10 percentage points out of the total return. Can this be? TIAA-CREF appears to have luke warm returns but low expenses. There are a few Vanguard, Fidelity and T. Rowe Price choices with Pebsco and Valic but now I am worrying about the fees. The Pebsco website only provides the usual prospectus and fee for specific funds, but, does not say anything about additional management etc. fees. Open season is just once a year (Fall) so advice on what I should do at this juncture would be great.
  2. Hi. New to academia and have been putting the max into my 403b and 457b options. Since I had so little time to go over the benefits information before starting the new job, I had a fee-only financial planner review everything (it was over 1 foot high). They suggested Valic for my 403b and Pebsco for my 457b (the only vendor who offered the 457b at the time), and TIAA-CREF for my employer contributions to my retirement (Optional Retirement Account). A year later and now Valic, TIAA-CREF, ING, and American Century all offer the 457b. Last Fall, to simplify things and follow the financial planner's advice (she liked Valic better than Pebsco), I signed up for the Valic 457b. Reading the morningstar discussions and these discussions, I spent several hours yesterday trying to get a handle on the fees I have been paying. Although the Valic representative said he didn't know when I asked him, the performance results before and after taking into account management fees suggest that the fees range from 4-10 percentage points out of the total return. Can this be? TIAA-CREF appears to have luke warm returns but low expenses. There are a few Vanguard, Fidelity and T. Rowe Price choices with Pebsco and Valic but now I am worrying about the fees. The Pebsco website only provides the usual prospectus and fee for specific funds, but, does not say anything about additional management etc. fees. Open season is just once a year (Fall) so advice on what I should do at this juncture would be great.
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