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Re: Q re Dividends
Old 12-28-2006, 12:36 PM   #41
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Re: Q re Dividends

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I'm a happy camper!
Good for you Bram.

Since this is a 403(b) account, can I assume that this is a retirement plan in a school district?

Anyway, after this gets all returned to how it was before this all happened, I recommend that you review the entire deal with whomever is the benefits manager of your plan (someone @ the school district). They need to be aware that Ameriprise is deceiving their employees like this so they can, hopefully, make appropriate changes and others will not have to go through what you did.

You're possibly going to be a local hero, get ready!

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Re: Q re Dividends
Old 12-28-2006, 01:34 PM   #42
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Re: Q re Dividends

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Since this is a 403(b) account, can I assume that this is a retirement plan in a school district?

Anyway, after this gets all returned to how it was before this all happened, I recommend that you review the entire deal with whoever is the benefits manager of your plan (someone @ the school district). They need to be aware that Ameriprise is deceiving their employees like this so they can, hopefully, make appropriate changes and others will not have to go through what you did.

You're possibly going to be a local hero, get ready!
No, mickey, it's a retirement plan that is thru a community non-profit hospital where I was an RN for 36 years & I've been gone from there for 3 years. I am not drawing any of my retirement pension or tapping the 403(b), yet, as my DH is still gainfully employed (hopefully for 5 1/2 more years).

LOL on the "local hero" stuff! To be honest my impression is ...
#1 The "Senior Benefits Consultant" in HR is not the sharpest blade in the drawer and she would not have a clue what I was talking about, nor what to do with the info. She is simply a fancy title without much depth, imho.
#2 There is a fair amount of turmoil @ the hospital right now (isn't there always?) with budget cuts, bottom line in the red, staffing cuts/terminations/turnover, yada, yada.... The Admin doesn't really care because they're dealing bigger employee issues than what I would bring to their attention. They have 3 options as far as companies that you can choose from for your tax-sheltered accounts, & beyond that, the employee is on their own. All retirement "education"/knowledge flows from the company reps (FA's) themselves to the employees.
#3 There was a day when I could speak up & would be heard there, but nah,,,, not anymore. Also, I've had very limited contact with anyone from that past long-term relationship since I officially cut my ties.

Hope this doesn't come off as sounding too cynical. I'm not, really. Just think I would be spinning my wheels.
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Re: Q re Dividends
Old 12-28-2006, 01:43 PM   #43
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Re: Q re Dividends

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Hope this doesn't come off as sounding too cynical. I'm not, really. Just think I would be spinning my wheels.
No, it makes perfect sense to me.

Another piece of advice, if you can take it, I strongly recommend that you rollover your 403(b) to an IRA ASAP. I recommend Vanguard funds, but there are several excellent companies out there that also do a good job.

As you are no longer working for the hospital, your retirement fund has no business still sitting in the old 403(b) account. By moving your funds to Vanguard you will save thousands of dollars each year in unnecessary expenses that you are now paying. It will also get you away from Ameriprise!
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Re: Q re Dividends
Old 12-28-2006, 02:16 PM   #44
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Re: Q re Dividends

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Another piece of advice, if you can take it, I strongly recommend that you rollover your 403(b) to an IRA ASAP. I recommend Vanguard funds, but there are several excellent companies out there that also do a good job.

Insert:::Twilight Zone music:::
Either you're reading my mind or I must already be getting edumacated. I have been reading the Vanguard site & plan to also check out Fidelity's info with that VERY thought in mind, mickey!.

I do want to get away from Ameriprise. There are other things, at a minimum just about my particular FA ,that just have given me some niggling doubts for some time. But I just didn't have any sounding board, & lacking savy, I didn't want to do the frying pan/fire thing.
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Re: Q re Dividends
Old 12-28-2006, 02:28 PM   #45
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Re: Q re Dividends

When I just saw you left the employer with the 403b 3 years ago, I was wondering why not roll the 403b over to fidelity or vanguard into an IRA? Do your research but it sounds like you could literally save thousands every year in expenses! (what mickeyd said, basically)
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Re: Q re Dividends
Old 12-28-2006, 02:32 PM   #46
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Re: Q re Dividends

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Originally Posted by Bram
But I just didn't have any sounding board, & lacking savy, I didn't want to do the frying pan/fire thing.
Well, now you have a sounding board here, so take charge!

Schwab is good, too, BTW.
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