Part 6 (Out of 10) Suggested replacement funds were in the asset class to accommodate the diversification requirement of the Investment Policy Statement. We made it clear the total costs above 1% were too high. These alternatives cost less than 1% total. With the amount of expected assets coming from thousands of potential LAUSD customers, …
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PART 5 (out of 10) Most Expensive Funds The remaining eight funds were too expensive, in my opinion. All five Lifecylce T. Row Price funds, Turner Mid-Cap Growth, Janus Mid-Cap Value and Davis NY Venture A cost over 1.0% total cost. At 1.35% Turner Mid-Cap Growth, the highest cost fund, would grow in somebody else’s …
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Part 4 (out of 10) Total Costs to Participants Finally Revealed Investment costs are the most protective pieces of information in the financial industry, hermetically sealed from public view for good reason. If people found out how much they were paying over several decades they would realize how all those hidden costs and expenses eat …
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Part 3 (out of 10) School Districts’ Love Affair with Insurance Companies PreK-12 school districts are rampant with insurance companies’ 403b products. So, choosing an insurance company should not be a surprise. We experienced this dance before—this decision to select AIG-VALIC was contradictory to Mr. Tischler’s vision. The American Federation of Teachers’ (AFT) also produced …
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Mercer Consultants Mercer’s rep marched to the podium with a briefcase and stacks of reports, wearing a smartly dressed dark suit. I got a heads-up about Mercer from my professional friend, Brian Cressey. Without hesitation he said “Mercer is the crème de la crème of retirement plan consulting firms.” Their website showed they’re a huge …
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Part 1 (of 10) Genuine Financial Transparency Demonstrated 2006-2011 Alexander the Great untied the Gordian Knot with his sword. Previous attempts to solve the impossible entanglement were unsuccessful by conventional thinking. Whoever unraveled the maze would become King of ancient Phrygia. Zeus was so pleased with Alexander’s shrewdness he granted royal status and a lifetime of …
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“ETF Funds For Late Starters” Excerpts: “One of the more unnerving facts about retirement investing is the illusion of knowledge. As we get older and more wise to the world, the tendency is to believe that we understand how things work.” I agree! Excerpt: “Late starters to investing can avoid this trap by using index …
NOTICE TO READERS! This chapter 7 is an early version of my book, “Fighting Powerful Interests.” For the finished and completed published book, go to the home page and obtain the free pdf. (Click here and scroll down. Subscribe to our blog and download the book!). Forward 2002. In this chapter we head for Sacramento …
NOTICE TO READERS! This chapter 5 is an early version of my book, “Fighting Powerful Interests.” For the finished and completed published book, go to the home page and obtain the free pdf. (Click here and scroll down. Subscribe to our blog and download the book!). Foreword to Chapter 5: Read what the American Federation …
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The great TIAA CREF low cost 403b signed on to LAUSD’s 403b list in 2001. Then they tried unsuccessfully to get the United Teachers Los Angeles (UTLA) “Union Approved” stamp. My decade-old story is timely today. The resistance to TIAA CREF entering the PreK-12 educational profession remains strong. Teachers seldom have low cost 403b plans. My story provides clues as to the reasons why the resistance to low cost 403b companies …
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