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magmason

Calstrs Pension 2 Switch From Tiaa/cref To Ing

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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

 

 

 

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Hi Maggie,

Calling on Scott who is a consultant to CalSTRS and one of the creators of Pension 2.

 

To Scott: has CalSTRS issued a press release or have information online about the effect of ING on Pension2, so that Maggie's question can be answered?

 

If TIAA CREF is available just from your district, yes, you can stay with TIAA CREF and their funds. However, Pension 2 is CalSTRS' product, not TIAA CREF, Tia Cref will be the record keeper until September when ING (Voya) takes over.

 

Scott?

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