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tibbels1

omni 403b advice

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Hi all,

I am looking for some advice. I am starting my first job that uses omni for retirement 403bs. I need to select a investment provided from the screens attached, double ** are not supported for out plan. I was wondering if anyone could make any recommendations. I am not sure if they are all equal or if it makes a difference. Any advice, recommendations, or ideas on what to look for would be helpful. It seems like once we select a provider that provider will take care of the rest.

 

Thank you for any info provided.

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On 12/31/2020 at 8:40 AM, dale2010 said:

Aspire, without a doubt.  They have low fees and you will be able to access Vanguard funds (VTSAX). 

 

Security benefit offers Direct Invest which we have written about extensively here. Check other threads and you will learn all you need to about how to tap into Vanguard Funds that they offer very cheaply . The Vanguard funds they offer are just enough to put together a very low cost basic index portfolio which in essence is all you need.

Fidelity Trust Management Company is the home of the zero expense ratio Fidelity index funds so that would be a choice if you go strictly index funds. Their managed funds should probably be avoided as they cost more. I believe they are linked or are part of the Fidelity management network.

Aspire if you self direct the account and use no salesperson/advisor also allows you to tap into Vanguard or Fidelity Index funds. WE have also discussed this in great length in other threads as well. Just write "self-direct" on the application, pick your funds and you are good to go. You can tap into any Vanguard index funds or target funds which are made up of their index funds.

All three options are decent enough but if it were me, I would go Fidelity first, NEA Direct Invest (via Security Benefit) second , and Aspire third if you want to get the cheapest lowest cost option

Good  corporate customer service is an important consideration after you pick your lowest cost providers. Getting a company to follow through is an important consideration too and sometimes worth paying a little more if you are a novice and not sure what to do. But don't use salespeople . I think Fidelity excels at customer  service.

 

Tony

 

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Thank you all for your feedback. I wanted to go with fidelity but I guess that is one of the few not supported. I guess I am going to go with aspire. I put in to have them deduct some money from me every pay period today so I guess soon I will see what the next step is. Thank you for your advice on helping me get started!! 

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19 hours ago, shirley said:

What does "** are not supported" mean and why are they on the list?

 

 

I hope he returns to explain this . If its not supported why is it on the provider list? Regardless, looks like he already decided on Aspire.  I'm opened minded about fees. Aspire was the highest fee choice but in the big picture he did make one of the best three decisions on his list.

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I agree that Aspire is a fine vendor and their fees are reasonable. I missed the ** on Fidelity. It's always exciting to see Fidelity on the vendor list!

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