Calling All Southern California Peeps With School's First Fcu!

[Broski499 0]

I'm trying to decide on whether to use the CalSTRS Pension 2 or School's first Federal Credit Union Retirment Builder which is done through Nationwide. Here are the fees assosiated with School's first. Does anybody have any expereince with them? I switched over to them for my banking and have been very happy with the great customer service. They also have a lot of products deisgned specifically for teachers.

 

Managed Account Services Amount: 0.70% When the Fee Applies: Pro-rated for days under management How the Fee is Computed: Percentage of account value Fee Waiver: No waiver if managed account services is used. The annual fee is pro-rated for number of days under management. Fee is deducted quarterly or at the time of termination of the managed account services option. Fee is in addition to the Asset Fee and internal fund expense of individual funds. Does not apply to accounts not using the service. Fund performance is not reported net of this fee. Breakpoint: None apply. Capped: Yes Asset Based Plan Administration Fee Amount: .21% When the Fee Applies: Daily How the Fee is Computed: Percentage of the account value Fee Waiver: No waiver. Fee is assessed to cover plan administration expenses and may be redetermined periodically. Prior year fund performance is reported net of prior year's Asset Based Plan Administration Fee in effect on 12/31/2013. Prior year's fee was 0.20%. Breakpoint: None Capped: No Asset Fee Amount: 0.04%, or 0.44% When the Fee Applies: Daily How the Fee is Computed: Percent of account value Fee Waiver: No waiver of Asset Fee. Asset Fee is based on assets in the plan and the funds selected. Different funds have a different Asset Fee. Asset Fee is in addition to internal fund expenses. Stated Asset Fee applies to current contract year beginning January 1 and may vary from prior year's asset fee. Fund performance is reported net of the prior year's Asset Fees in effect on 12/31/2013. Prior year's Asset Fee was 0.05%, or 0.45%. Breakpoint: Fee is modified annually based on total assets in the plan. Capped: No Exchange Fee Amount: 0 When the Fee Applies: At the time funds are withdrawn How the Fee is Computed: N/A Fee Waiver: If the fee is submitted hardcopy a $6 fee will apply. The fee is waived if exchange is processed by web or voice response unit. Fund performance is not reported net of this fee. Breakpoint: NA Capped: Yes Participant Recordkeeping Charge Amount: $4.00 When the Fee Applies: Annual Fee divided by 12 and billed quarterly How the Fee is Computed: Flat Dollar Amount Fee Waiver: None. Fund performance is not reported net of this fee. Breakpoint: Capped: Yes

 

 

 

 

 

 

Or CalSTRS

 

Administrative Fee Amount: 0.25% When the Fee Applies: Annually How the Fee is Computed: Percent of Annual Assets Fee Waiver: The 0.25% Administrative Fee is charged on a quarterly basis (0.0625% quarterly). Breakpoint: Capped: Yes Self Directed Brokerage Account Fee (Optional) Amount: $50.00 When the Fee Applies: Annually How the Fee is Computed: Flat Dollar Amount Fee Waiver: Breakpoint: Capped: Yes Fully managed account services provided by Voya Retirement Advisors (Optional) Amount: 0.65% When the Fee Applies: Annually How the Fee is Computed: Percent of Annual Assets Fee Waiver: This is an optional service offered for those individuals who prefer to hire a professional to manage their Pension2 account. If a participant decides to not partake in the fully managed account service option, there is no fees or charges for investment advice. Breakpoint: Capped: No

 

Any help to decipher all of this would be great. Thanks for any and all help!

 

 

 

[Broski499 0]

sorry guys, these looked way better when I had it formated in the original post. I'll clean this up later.

[shirley 0]

Broski,

 

Dig deeper and you will probably find that Nationwide is an insurance company. Also, anything that is patriotic, beneficial, or reliable is probably an insurance company. Let us know!!!! Regulars on this site know CalStrsP2 is a superior product. Bob

[DK 0]

For nationwide, the fee is either .25% or .65% depending on the funds you choose. If you do look at the funds, the one that charges a lower expense ratio will have the 0.65% fee and the higher expense ratio will have the 0.25% fee.

 

For P2, it's 0.25% admin fee + expense ratio of the funds. The funds here have lower expense ratio. Also, the fund choices seems better even though there are more fund choices in nationwide.