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Everything posted by StevieRayClapton

  1. I have been very vocal. They have declined my offer to help form an advisory group at this time. I have specifically advised them in writing that they have a fiduciary responsiblity to the employee. Their reply was that they would do what was best for all involved. If they felt an advisory group was needed, they would keep me in mind.
  2. I have looked and looked for these on the Morningstar site. I can not find them in the Report archives. Do you have a link? Never mind... I found them.
  3. Vince, I now have both books. Other than the funds fees listed in the Fidelity prospectus, I can find no additional administrative fees. Almost sounds too good to be true.
  4. It is thru their mutual fund platform. I got the prospectus and can not find any fees other than the actual fund fees.
  5. er.... that would be "boggling". The county auditor explained to my wife that everyone switched because the "Axe Equitable Rep" came by all the time and the Nationwide rep didn't. Sounds like a plan to me.
  6. I just set up my wifes 457B thru Nationwide purchasing Fidelity Contrafund. Today, the county auditor brought her a sign up /transfer for AXE Equitable. She told my wife that "We are not using Nationwide much anymore, we are using AXE." She did qualify this to state that since my wife was already signed up she could continue with Nationwide. Yes, I realize that Nationwide has its share of problems but the ONLY product AXE offers is different Variable Annuities. ... blechh!
  7. The following news release appears to be some good news to those trapped in the VALIC 403B. Since it is brand new, I have not really had the time to investigate it. Will there be some hidden special VALIC fees?
  8. I am volunteering to help establish a comittee of employees to advise management. I have no idea if they will allow this, but at least I can try.
  9. Trying to be proactive, I sent the following note to NACO.
  10. I have been researching the Nationwide horror stories and was very aprehensive regarding this. She is a county employee. The National Association of Counties has a exclusive relationship with Nationwide. So basically, if she wants a 457, that's it. Reading through the site, we discovered that they allowed apparent direct investment in the Fidelity Contrafund. While they go to great lengths to document the fees for the Variable Annuities they sell, there is no mention of any additional fees for the mutual funds they allow. I realize from my previous 403b with VALIC, that these folks are very good at hiding fees. I just can't find them in the Nationwide plan. We did not purchase any of the insurance products they offer. Since this is the only option she has, we didn't see any other choice. We are in the 28% bracket so the tax savings are significant. We both have Roth IRA's as well. Observations? Helpful ideas?
  11. I work for a large hospital organization in Texas. When I first began 11 years ago, they pushed VALIC hard. So hard, I didn't even realize other options were available for several years. Eventually, I became better educated and discovered the huge fleecing I was receiving from VALIC. I paid in excess of $1000 in surrender fees and penalties to VALIC to go to Fidelity. I have just found out that they are thinking of restricting us to one vendor... most likely VALIC. The benefits advisor told me that "most employees like the rep hand holding" so Fidelity would most likely be gone. We currently have four options. VALIC Citistreet/Metlife Merrill Lynch Fidelity This is an example of legislation that helps us?
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