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  1. gchs

    A Request

    The following is a request from my SD comptroller concerning revamping our vendor list. "We would like to get an outside party to review our vendors and consult with us. Have you seen anything on 403bwise that talks about companies that do this? "Can anyone send in suggestions so I can send them on to him? I am anxious to get the ball rolling! Thanks!
  2. gchs

    "old Plans"

    Please tell me what an ER is?
  3. gchs

    "old Plans"

    westerndad : Do you dare disclose which firm would sign a hold harmless agreement? Joel and all others, I appreciate your very specific feedback on where to find help. I will continue to push -I wish I had more time... (like all of us)
  4. gchs

    "old Plans"

    Thank you all for responding! Yes, it is overwhelming to research and change a SD's vendors list. There are many reasons I am unable to lead this battle...Hopefully, our CPA will take an active role, as he was interested in knowing more.. I wanted more inf on the following quote: .., tell the CPA that the SD should also offer a 457(b) plan. See if you could opt into the 457(b) plan of the State in which you work. This can be done by SD in the State of New York and Califonia. 1.A vendor told me it would be more beneficial to max out a 403(b) then go to a 457-Is that true? 2. Are 457's usually handled by the vendors along with 403b's? I guess I do not know enopugh about 457's. what exactley should I ask the SD concerning opting into a 457(b)? I live in GA. Thanks again-I passed this site onto all teachers at my school, but no one I have spoken to seems to be passionate enough to make "noise".
  5. gchs

    "old Plans"

    Thanks Sierra for your reply. So are you sayig you feel the CPA should do most of the homework or would it already be on file? He mentioned a study team to discuss the SD"s current offerings and what it might evovle into. His opinion is I should contact the Supt. I feel overwhelmed with info. and still under educated to take on this role. I need any and all feedback if anyone has undertaken a role to change their SD's plans.
  6. gchs

    "old Plans"

    I approached my SD concerning the current offerings and possibility of adding a low fee vendor. Althoug there was open discussion, a comment was made that employees who were enrolled in some of the current plans, prohibit adding new vendors to the list. So when a SD drops a vendor, what happens to those empoyees enrolled with that vendor? I showed our SD CPA this website and encouraged him to have a good look at why I was asking for a new vendor. He encouraged me to write a letter to the Supt. to see if we could develop a plan doc. I read the form letter from this site asking for new vendors. I would love to adapt that but I need hard facts about our current vendor list. For example, I called Amer. Exp. and I rec'd much info on their fees, but it depends on the MF or annuity and A shares vs. B shares. Another words, all the vendors have multiple fees DEPENDENT on what type of TSA you sign. I just want to present basic info. but it gets very complicated. So my question is how can I simplify fee info. to compare the black & white of plans and get action. Thanks- All of the vendors were NOT familiar with a 90-24 either, but most I spoke with had surrender fees up to 7 yrs. !
  7. Stop bickering I need HELP: WHy is it no one I have spoken to knows what a 90-24 is and why would a large company like Fidelity have my school system listed as having done business with in their 403b Dept. yet the school system says they are not on their approved list? Who do I confront about offering different vendors? Thanks for any input ("smart or otherwise")
  8. Dan, Yes, The info you found was on the MF co. the agent works with. And I found where that co. has one of the highest fee base from this website also! I spoke with Fidelity"s 403b dept. and they said my county is listed in their database, even though it is NOT on our approved vendor list! Vanguard is sending an employee & employer kit but I feel like my county will not budge.Ok here's a NEEBIE ? : Who decides on the vendor list-schoolboard or superintendent?(I want to know who to bug if needed.) Here are our approved vendors: First Investors , American Express Franklin Life, Horace Mann Metropolitan Life, Putnam State Farm Insurance, Sun Life Primerica , Valic ValuTeachers, Inc.(this is the EIA and MF-Planmembers) I'd appreciate any suggestions. And thanks
  9. " Dan, If I had a CFP, how would that person work outside a vendor agent?
  10. Dan Otter and westerndad, Thank YOU so much for sending me in the right direction! I didn't realize I could use Cali. site to compare. I assumed the website would restrict outsiders. One thing this agent said was that there was more fees assoc. w/ the mutual fund as opposed to the EIA fund. I read the EIA article elsewhere. I asked him the % of earnings for the EIA & he said in 7 yrs. it was 9.1%- can that be? I will ask if this agent will do a 90-24 (is that the correct term for transferring)? There is just so much info. to sift through. But I am trying at least. Again thanks so much
  11. Has anyone had any expereince with Planned members- a mutual fund co. out of Calif.? Can anyone advise how I can get more info about this co. (A website from the gov.) I also had an earlier post asking for help-PLEASE...Thanks in advance!
  12. I was hoping some more knowledgeable people could offer help! PLEASE! (see post above)
  13. Thanks for some insight. I really am trying to educate myself but I am trying to do it in a crash course way. I spoke to an agent today who offers an EIA and mutual funds through ValuTeachers INC. They write 403b and 457b's through Life Insurance of the Southwest. (Good rating through Moody's) Their mutual funds are through a company out of Calif. that I'm not aware of called Planned Members. I had him show me fees for each scenerio and it appeared the mutual funds had fees of 1.82. Is this high? I asked him his backround which he said he had a financing degree and he has lic. to be a financial planner, sell mutual funds, etc.. Here are our other options: First Investors ,American Express Franklin Life, Horace Mann I'd appreciate any suggestions. Metropolitan Life, Putnam State Farm Insurance, Sun Life Primerica ,Valic ValuTeachers, Inc.
  14. Hi I am new to 403b's. Here's my question: If the approved vendors only sell TSA's is it still wise to invest at all?
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