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gschech

Valic Pcra And Rsvp

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We have a Valic 403b at work. As everyone knows, Valic's fund fees are very high. They have offered us a personal choice retirement account (PCRA) through Schwab. With this account, employees can invest in mutual funds through Schwab. However, there is a fee for this. If your account balance is less than $50k, there is a $50 per year maintenance fee. If over $50k, there is no fee. Another thing they have to offer us is what they call RSVP. It's my understanding that you can invest in mutual funds and it's not an annuity. So I assume the fees would be lower. Does anyone have any experience with either one of these? I'm looking to make a change for the benefit of the employees.

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Guest Erik

$50 seems pretty reasonable to me for access to the no load platform. However, for clarification, VALICs fund fees are actually pretty low - typically less than 1% - what is expensive is the insurance charges that are added on top of the fund fees. Glad to see that you want to do the right thing for your employees!

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