Category: Uncategorized

COVID-19 & Teacher 403B Retirement Savings

I was doing my normal daily routine of looking at news and emails this morning when I came across a Reddit post about a teacher that resigned.  The teacher had asthma and a partner with heart issues.  The school was unwilling to work with the teachers need for telecommuting.  So, the teacher resigned.  Where’s the union at you may ask?  Although the work environment for educators has unforeseeable events, it creates the perfect opportunity to review your 403B or TSA retirement account.

Depending on if you leave the school district or not will be a question you need to ask yourself.  The only time a 403B can be rolled over to an IRA is if you leave your employer which is the school district.  Keep in mind you can get a job in another school district and roll over the account.

The next step you need to determine is if you have a regular 403B or a Tax Sheltered Annuity (TSA).  Typically TSA’s will have higher fees such as surrender charges and Mortality Expense (ME) fees.  Surrender charge fees vary on each contract and need to be looked at.  Also, there’s a mortality expense fee (ME) which is a fee paid to the insurance company for the risk they take.  Depending on any surrender charges will be a factor if you will be penalized now vs. risk the opportunity cost of reinvesting in the current environment.  Each individual is different.

Once you determine that you want to rollover your 403B, you have a wealth of choices to choose from.  This is also a perfect time to review your pension.  Keep in mind you will want to speak with a fiduciary like myself with transparency on business practice, fees, and client interest.

You can setup a free consultation HERE.

Copyright © 2020 ALL RIGHTS RESERVED. No part may be reproduced, altered, or copied in any form without written consent. Information contained herein is for informational purposes only and should not be construed as an offer, solicitation, or recommendation to buy or sell securities, or personalized investment, tax or legal advice. The information has been obtained from sources believed to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the stocks they discuss. The information and content are subject to change without notice. TreveriCapital LLC is a California registered investment advisor.

This is an example of why transparency is so important in the financial world.

Real estate company misappropriated 1,000’s of investors money.

https://www.sec.gov/news/press-release/2020-35

 

Copyright © 2020 ALL RIGHTS RESERVED. No part may be reproduced, altered, or copied in any form without written consent. Information contained herein is for informational purposes only and should not be construed as an offer, solicitation, or recommendation to buy or sell securities, or personalized investment, tax or legal advice. The information has been obtained from sources believed to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the stocks they discuss. The information and content are subject to change without notice. TreveriCapital LLC is a California registered investment advisor.

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