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Learning, Sharing, and Teaching => Investor Alley => Topic started by: Gin1984 on July 08, 2014, 03:27:02 PM

Title: Never heard of this, but multiple venders for a 403b
Post by: Gin1984 on July 08, 2014, 03:27:02 PM: Has anyone ever heard of this?
http://hr.buffalo.edu/files/phatfile/Approved_Vendor_Rep_List.pdf
Title: Re: Never heard of this, but multiple venders for a 403b
Post by: arebelspy on July 08, 2014, 05:49:54 PM: Yes, my 403/457 has multiple companies you can choose from.

Scanning that list, I vote you go with Fidelity. They have some good, low cost funds equivalent to Vanguard.
Title: Re: Never heard of this, but multiple venders for a 403b
Post by: Ohio Teacher on July 08, 2014, 06:13:40 PM: Yes, that looks very similar to the list I have at my public school in Ohio for voluntary 457 contributions. I went with Ohio Deferred Comp, which I'm guessing is very similar to NYS Deferred Compensation, because it offers institutional-level Vanguard funds. Total Stock Market with a fee of .02% cha-ching!
Title: Re: Never heard of this, but multiple venders for a 403b
Post by: eman resu on July 08, 2014, 06:20:33 PM: Hi - My wife is a NYS emp. For her 457, we went with the "Tier II" option (see link below) and use a couple of the Vanguard index funds primarily. See pg 13 for the Plan's admin fees as well.

https://www.nysdcp.com/tcm/nysdcp/static/BrochureInvOptions.pdf?r=1

For 403b I would second arebelspy's suggestion of checking out Fidelity. My wife uses TIAA-CREF, which has some decent options as well. For the sake of full disclosure: I haven't researched all the options with full rigor as my wife is happy with what she's doing.

EDIT: correct spelling: "arebelspy"...
Title: Re: Never heard of this, but multiple venders for a 403b
Post by: Another Reader on July 08, 2014, 06:25:50 PM: FMR may be different that the retail side of Fidelity. Worth a call to see what they offer. TIAA-CREF might be ok if they offer funds, not annuities. The other three are high fee annuity pushers.

Sure would be nice to max out both the 403b and the 457 plan....
Title: Re: Never heard of this, but multiple venders for a 403b
Post by: eman resu on July 08, 2014, 06:34:53 PM: Quote from: Another Reader on July 08, 2014, 06:25:50 PM
FMR may be different that the retail side of Fidelity. Worth a call to see what they offer. TIAA-CREF might be ok if they offer funds, not annuities. The other three are high fee annuity pushers.

Sure would be nice to max out both the 403b and the 457 plan....

Great points. I want to say the Fidelity options available weren't ideal, but don't take my word for that OP. CREF offers annuities and funds through the plan, I believe, so if you land there be wary.
Title: Re: Never heard of this, but multiple venders for a 403b
Post by: Gin1984 on July 08, 2014, 06:39:45 PM: Quote from: Another Reader on July 08, 2014, 06:25:50 PM
FMR may be different that the retail side of Fidelity. Worth a call to see what they offer. TIAA-CREF might be ok if they offer funds, not annuities. The other three are high fee annuity pushers.

Sure would be nice to max out both the 403b and the 457 plan....
I can't, my gross income is $25,000, I have to pay 2% to my union, 3% to my pension and about $1560 to my health insurance. Then again, the grad students who don't have the union don't have either 457 or 403b so it evens out, lol.
Title: Re: Never heard of this, but multiple venders for a 403b
Post by: Mr. Frugalwoods on July 08, 2014, 07:17:10 PM: Ask the Fidelity folks if the plan offers Spartan funds. Those are the vanguard equivalent low cost index funds. Not all Fidelity 401k/403Bs offer them, and the normal Fidelity mutual funds are generically awful from an expense ration perspective.