This WSJ reporter needs you! in 403(b) Forum Posted May 14, 2019 · Report reply I actually have a great idea for an article if anyone wants to run with this. In NY the TPA that many districts use is OMNI. They've gotten VERY big. If you look at what they've done it's criminal. They dangled a carrot in front of districts after the 2008 crash when district were cash strapped and offered to absorb the costs of running the 403/457 programs IF the districts would limit their offerings to only companies that were willing to absorb the TPA fees. This about and RFI that essentially completely eliminated the access to Vanguard and Fidelity in most districts. They called this the Omni P3 Programs and it looks great but it smells like............ My sister in law was caught up in this and was so disgusted that she stop her 403 contributions. LONG STORY. My wife and I happen to be in 2 of the 6 districts in the area that do not offer P3. We have access to Fidelity, Vanguard and the NYSDCP (457) of which we max out both plans for a total contribution of $76,000 to Vanguard and NYSDCP. In a time when we're fighting for better and fewer choices, OMNI is making it easier to insurance companies to build a foothold in the NY schools. It would be interesting to see if local unions are even able to negotiate this. I have tried for 4 years to have Vanguard reinstated at my sister in laws district. all my requests to admin and the local union have fallen on deaf ears because I don't work there. I'm in the finishing stages of putting her in Security Benefit NEA Direct Invest to gain access to to Vanguard Index funds. Hear in my district we've essentially chased out all the insurance companies from roaming our hallways. I don't know how put they still get to my young teachers and then I have to show them the way to low cost investing. What do you think, would this make a good article.