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mikew031

Feedback Requested

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Good Morning,

I was hoping to get some feedback on the 403b options offered through my wife’s school district. I’m assuming the NEA option is best. Thanks!
 

AXA Equitable

https://us.axa.com/about-axa/

Contact - Dan Holdt (c. 908 - 296 - 4828)

 

Great-West Financial

https://www.greatwest.com/annuities/

(866) 467 - 7756

 

Lincoln National

https://www.lfg.com/public/individual/manageyourretirementaccount/workplaceplan

(877) 275 - 5462

 

AIG (Valic)

https://www.valic.com

(800) 448 - 2542

 

TD Ameritrade c/o Omega Capital Management LLC

Contact - Gabriel Rosko (908 - 362 - 9799)

 

NEA Retirement Program

https://www.neamb.com/products/nea-retirement-program

Contact – Eric Lindstrom (cell 201-704-2340 / office 732-475-0340)

eric.lindstrom@abmmfinancial.com

 

Lincoln Investment

www.lincolninvestment.com

Contact – James Burr (cell 201-636-1636 / office 800-627-0067)

jburr@lincolninvestment.com

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NEA choice is not necessarily the best choice If you end up in the wrong funds program. They advocate some high fee choices. I imagine they are getting some kind of kickback for their endorsements. What you need to do is sign up for NEA Direct Invest and pick the Vanguard funds and do this on your own without any financial advisor interference.This will require linkage through Security Benefit which I 'm not sure you have . You will have to do further research.

None of your other choices look all that appealing either. Valic might offer some non insurance choices that might be O.K if nothing else pans out better for you. TD ameritrade might allow you to open a brokerage account. If you can do that, that might be your best option but your list has no links to further understand what they are offering your particular school system.

What state are you in?  Does your state have a 457b plan available to teachers?

Give us a little more info please

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On further examination.

Actually, your NEA link does show Direct Invest as an option so The NEA Direct Invest is your best option You will have to go to the Security Benefit website , find the direct invest application and send it in. Pick The Vanguard Funds.  Don't seek the help of an advisor as this is something you do on your own. I'm afraid they will draw you into the wrong funds.

https://securitybenefit.com/individuals/product/nea-directinvest

You could pick and be completely diversified at low cost

Vanguard Total Stock Market Index

Vanguard International Index

Vanguard intermediate bond index

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mike031, welcome back to the forum! In your 2017 thread you wrote that you had both the Lincoln Investment PDP and the NEA Direct Invest available to you and you decided to go with Direct Invest. Does your wife also have the PDP available? If so, I wonder if Lincoln Investment is also on her district's 457 vendor list? If neither of you are contributing to a 457 plan, the PDP is very low-cost. And she could contribute to both the PDP 403b and the PDP 457 for a single $35/yr administration fee. Maybe you are already contributing to a state-run 457 plan? The lack of an early distribution fee (10%)of the 457 if she quits her current employer could come in handy.  

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Thanks for the feedback. 
Krow, I fortunately developed a good relationship with my BA and he was able to get Vanguard approved in my district for 403b options. 

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That's great that you were able to get Vanguard added to your district's 403b vendor list! Is your wife teaching in NJ, where the LI PDP is available to any district that has LI on their vendor list? 

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