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KenJ

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  1. KenJ

    457 Question

    My school district has indicated that they will try to get all non-teacher and temporary teachers to leave the Social Security system and instead enroll them in a 457 plan - already established by the state of Massachusetts. This would save them approx. $75,000. (Mass. teachers are not part of Social Security) My questions is, if the district becomes part of the state's 457 plan for these employees, would the full time teachers (like me) then become eligible to participate??? I know 403b regs pretty well, but have no experience with 457 plans. Our new 403b options are horrible, and the state 457 plan has seemingly low fees and great options - including setting up a brokerage account with TD Ameritrade.
  2. Tony, Thanks for the info. I haven't yet seen what the fees are going to be for the TPA, or if the American Funds offered by the Capital Bank and Trust have any hidden fees as well.
  3. Yes I too have been thrown to the wolves. Lost my Fidelity choice and am forced to leave the 403b arena. Here are my new choices: American Funds / Capital Bank & Trust Ameriprise AVIVA Life Insurance AXA Equitable First Clearing, LLC Great American Horace Mann The Legend Group Pacific Life Ins. TD Waterhouse VALIC Western National Anybody see anything here I can salvage??? Otherwise I will be putting money into Roth IRAs. Thank you Congress for these new regulations!! Who did you help except for the scavengers at the insurance companies??? Ken J
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