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457b Anuity

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We are currently offered a 457 anuity by American Fidelity Assurance Company

they give us a choice of various funds. I currently have mine in a Dreyfus Stock index fund. Is this a wise move? Are there 457's available that are not anuity investments?

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Fidelity offers a 457 which does not have annuities. I just talked to one of their reps and they are willing to start a plan at my school at no cost to the employee and the only requirement is that five people must sign up at first. I would try and get them.

 

Steve

 

 

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Okay fellas,

 

You should not be using the 457 plan unless it allows you to invest in no-load mutual funds of your choice.

You need to check the total expense ratios of your funds. If they are any higher the 0.50 percent, you are paying WAY to much. Optimally, you want to be around 0.2 or 0.3%. You should really need nothing more than Index funds or if you do not dollar cost average, ETF's. Check out Vanguard. Their funds are superior and their fees are low. Check out John Bogles book "Common Sense on Mutual Fund" to lots of info.

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Fidelity offers a 457 which does not have annuities. I just talked to one of their reps and they are willing to start a plan at my school at no cost to the employee and the only requirement is that five people must sign up at first. I would try and get them.

 

Steve

 

 

 

I'm so glad I check here periodically. I didn't think Fidelity offered one. After reading your post, I called and they obviously do but you only need five people INTERESTED in signing up. I have it saved on email. I asked the rep via email if I needed 5 to actually sign up or 5 that were simply interested and after checking with her manager, she emailed back I simply needed 5 people interested. I was very happy to hear that. I am sending the docs to my district now to sign off on them and get Fidelity on the list.

 

Hope this helps.

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