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Jeff the Teacher

Nea Member Benefits- New 403(b)(7) Plan

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Hi Jeff,

No I have not heard any more about this than you have already. This is what I lifted off the NEA's website:

 

"Please note that for those members who are comfortable evaluating investment products and developing diversified portfolios without face-to-face guidance from local representatives, we will be introducing a low cost, Internet-delivered, tax-deferred product in early summer. "

 

John Wendland

NEA Member Benefits

 

The plan sounds good, but the devil is in the details with lots of questions. The statement says its "internet-delivered." Well, that sounds great but NEA is not an employer, so how will this work with local school districts across the country?

 

Regards,

Steve

 

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Here's a link, but it isn't nearly as instructive as you'd probably like it to be.

 

https://nea.securitybenefit.com/Com/NEAMB/R...?link=RetProgMF

 

No word on costs or anything trivial like that, unless I'm just missing it. Then again, they don't go out of the way to advertise costs on their VA products either (though at least with those, there's a prospectus you can click to).

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Dear FrenchTeacher,

 

Thanks for the link. It looks like it takes you to information for the current program sold through Security Benefit. NEA Member Benefits plans to introduce a new program. In an e-mail, the NEAMB rep said it is going to be available in the second quarter of 2007, but we are waiting to hear the details. I was originally told, and read in an NJEA publication, that product details would be made available in March. Perhaps the information will be annonced soon on the NEA Member Benefits Website.

 

Jeff

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