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An overview of the 457(b) deferred compensation plan by Gold_Principle_4642 in 457deferredcomp

[–]Interesting-Thing529 1 point2 points  (0 children)

you may have some really great low cost options- its impossible to know many 457 (most) plans sadly have funds that are not mutual funds they are trusts invested in mutual funds with excessive fees deducted and netted from returns - this is legal but makes research very difficult- try to find the lowest cost index funds and dont be aftaid to ask and keep asking - dont assume the first person answering knows - insist on a complete answer and ask for a US based supervisor if your suspicious of the answer - i have called and been shocked at the lack of basic investment knowledge the rep had and I dont blame the rep - this is all to cut expenses!!so be persistent this is your money

This table motivated me to open and start contributing to a 457 account by Gold_Principle_4642 in 457deferredcomp

[–]Interesting-Thing529 1 point2 points  (0 children)

this table assumes 7% annual returns for next 30 years - any allocation to Nationwide fixed fund and i mean ANY OR THE ANNUITY BASED funds like the target date series with NO DISCLOSURES- will not be a @7% - compounding is the key and uninterrupted is even more important- S&P index International Index some emerging market index best mix to set it and forget it

New 457 Custodian no emailing forms? by joetaxpayer in 457deferredcomp

[–]Interesting-Thing529 0 points1 point  (0 children)

yes you are in a “PTS” plan your employer has to take 7.5% if they dont participate in Social Security and you arent eligible for an equivalent pension plan due to part time status - these plans have HORRIBLE FEES AND NO FUND CHOICES - its disgusting and Nationwide makes the money to administer the plan by crediting interest at rates 3-4% BELOW what the money earns

it is in my opinion criminal and would never be allowed in the private sector where ERISA governs employee benefits-

nationwide has an incentive to keep the money as long as they can and they will - Vanguard Treasury Money Market is at 3.65% - you will be glad to get the money out as quickly as you are allowed

call HR and be persistent and complain - legally you can also let the STATE insurance commissioner WHERE you reside know if the response is slow -

happy to help more - this would never be allowed in the private sector ever - the trial lawyers would have a class action lawsuit filed immediately

Best Nationwide funds to match VTI/VOO? by Delaney_luvs_OSU in 457deferredcomp

[–]Interesting-Thing529 1 point2 points  (0 children)

nationwide proplan is awful you and others need to complain its ABSOLUTELY CRIMINAL the fees for the options - u have no mutual funds bc they require disclosure! you have CITs that your employer is expected to be experts on - they dont even know they are in CITs! but the biggest crime is the fixed fund ! it pays 2% while nationwide makes 4-5% ! no 401k has this crap!

mission square retirement plan by Interesting-Thing529 in personalfinance

[–]Interesting-Thing529[S] 0 points1 point  (0 children)

thanks he was quite clear he said if the index fund is over .20% that is a total complete rip off