FREQUENTLY ASKED QUESTIONS

Does my district work with you?

While there are some districts where we do not service employees, they are very few. Your district has a list of approved providers. We may utilize a variety of these providers on your behalf.

How do I enroll in the plan?

It’s very simple. There is a paperwork process that we will guide you through. We will handle all of the processing!

What if I have other retirement plans?

You may combine those plans into this plan. We can discuss whether this would be the best action for you to take.

Is there a charge to meet with you?

No, we never charge for meetings or planning. We are paid only if you decide to utilize us as your investment manager.

How much should I save?

We generally recommend that people save between 10 and 15% of their income towards retirement. With this said, if that is not currently a reality, don’t let that paralyze you. Save what you can as saving something is better than not saving at all. The contributions are flexible and can be changed at any time.

Do I need a 403(b) if I have a pension?

Yes. Your pension will replace a portion of your income, but most people take a 30-40% pay cut when they retire and rely on their pension. In addition, inflation (the cost of goods and services rising over time) is generally higher than the cost of living raises that are attached to a pension. This means the buying power of that pension is decreasing over time.

Should I pay off my student loans first?

While we typically recommend that you try to pay more than the minimum on any debt, we wouldn’t recommend completely paying off your student loans before beginning to invest. Even with extra funds going towards student loans it will still take many years to pay them off. We don’t recommend missing out on years of savings in this scenario. Do some of both!

How does a digital meeting work?

You will receive an invitation with a link to the digital “room” where we are sharing our screen. There is audio but no video. You will be the only person attending your digital meeting. You can attend the meeting from any computer or device. You can download the free Zoom app and run the entire meeting from your smartphone or tablet. Everything will work fine on a traditional PC or Mac as well.

What if I change employers or move to a different state?

That’s fine. These retirement plans are portable which means you can take them with you to a new employer or roll them into an IRA. We can assist you with these changes and can remain your advisor as you move and travel.

How will I be able to see my account?

You will have online access to your account and will also receive paper statements. You can shut off your paper statements and/or be notified by email when they are available to viewed digitally.

Is it easy to make changes to my plan?

Yes. Your advisor will take care of any changes to your plan. Simply send us an email with the request. You can change your contribution amount, beneficiary, and risk tolerance whenever you’d like. Specific investment trade requests must be taken by phone conversation.

Is there a minimum? What if I don’t have a great deal to invest right now?

No, there is no minimum. We encourage you to invest whatever you can and to work towards significant contributions in the future slowly and over time. We can teach you some tricks to make this painless but getting started is a must!

What if I already have a 403(b) through my current district?

It’s great that you’ve started saving but do you know the exact internal expenses of your account? Do you really know how it functions? Let us educate you on these issues to help you compare your account to other options. The worst thing that could happen is that you have a better understanding.

How do I access my advisor?

You can send emails directly to your advisor. You can schedule online meetings to speak with your advisor as often as you would like. If you call our office one of our office administrators can schedule a phone call at your convenience with you and your advisor. You can also follow teacheretire on social media platforms and reach out to us there.

What if I’m unhappy and no longer want your services?

This does not happen often but if at any time you feel that we are not the right fit for you there are no strings attached. Because we do not utilize any proprietary products you can remove us as your advisor and become your own advisor and hire a new one. You don’t even need to change accounts to do this.

Should I wait to open a retirement plan until I have a permanent or tenured position?

No. Often times people work in several different positions for different employers before settling down in their long-term career. You don’t want these years of work to be years of lost savings. You can transition your retirement plan into your next employer’s retirement plan or an IRA as you change employers.

NOW IS THE TIME

Take the first step in launching your retirement strategy today with personalized planning

Schedule a Consultation