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I've just received a postcard telling me that my Pension2 will now have a new "recordkeeper," Voya Financial (aka ING). Immediately came over here, where I see an older post about this subject, in which Scotty says that the TIAA-CREF guaranteed account (25% of my portfolio) and the TIAA-CREF Real estate account (10%) will no longer be available. Does this mean that I will be forced to liquidate my current holdings? I'm also wondering whether the DFA funds (55%) will also be going away. I'm not liking the sound of this change at all--if someone (Scotty?) can explain A. why this change was made or B. in what respects this change isn't clearly for the worse, I'd greatly appreciate it. Offhand, this seems like a very disappointing move from Calstrs--but I'll be happy to be shown wrong.
Hi, I just joined, and really appreciate all the good advice and info here. I'm trying to become more savvy, so please bear with questions that seem very basic. After reading this forum, I got my district to offer Pension 2 and switched from Metlife in 2009. I've been very happy with TIAA/CREF, the TPA for Pension 2. They have offered me several lengthy consultations, helped me set up my portfolio to maximize my returns, and I love the website. My question is, what exactly will the change to ING mean for clients? If I wanted to stay with TIAA/CREF, could I? I dislike what I've read about ING's 403(b) plans, including an article linked on this website that said ING was peddling plans with high fees to teachers. I doubt that will be true for the Pension 2 offering, but still, ideologically it rubs me the wrong way. TIAA/CREF seems more responsible and fair to teachers. Thanks in advance for your thoughts, Maggie