Disclaimer:

This website presents the ideas and thoughts of a friend. The information contained within should not be used to make investment decisions. Please contact a licensed certified financial planner before making any financial decisions.

Good Luck, and Good Investing.

     
     
 

As you hopefully understand, there are there are two types of 403(b)'s, the 403(b)TSA and the 403(b)(7) Custodial Account. Different companies offer different products. I have chosen to classify the providers in Wayne as Mutual Fund Companies, Insurance Companies.

  
  
 
  
 
 
 

 

  
 

The only true Mutual Fund Company we have as a choice in Wayne is Vanguard. Vanguard is one of the largest Mutual Fund Companies in the world. They are famous for being the first company to offer index funds and their fees are among the lowest in the industry. For more information on Vanguard visit their website

 
     
 
Company
Website
Phone
     
Vanguard
800-662-2003
 
     
     
 
Hybrid Companies
  
 
 
 
Company
Website
Phone
Lincoln Investments
James Burr
 
     
  Lincoln Investments is a bit of a Hybrid as they have both 403(b) variable annuities as well as 403(b)(7) Custodial Accounts. You can invest in Vanguard funds through Lincoln Investments, and you will have access to a financial planner to hold your hand through the investing process, just keep in mind that it costs more to go through a company like Lincoln, but you will have help if you want it.  
     
 
 
     
 

The Insurance Companies major offering is the 403(b) Tax Sheltered Annuity. They are all Insurance Companies so they naturally tie an insurance product to their investment product. You can contact them by visiting their website or calling thier representatives in our district. Those contacts are listed below.

 
     
 
Company
Website
Contact
Phone
       
Met Life
Paul Tully
800-492-3553 ext 28903
Valic
 Pat Bohen
800-892-5558
AXA Equitable
Tom Montemurro
732-452-7250
TIAA-CREF
  
800-842-2776
 
     
  Of special note:  
     
 

TIAA-CREF is known as the teachers company. They are well known as a provider of investments to the educational and non-profit community like hospitals and universities. TIAA stands for Teachers Insurance Annuity Association. CREF stand for College Retirement Equities Fund which was the name of the world's first Variable Annuity created by TIAA-CREF on July 1st, 1952. I list CREF under hybrids because depending on your school district, CREF may offer 403(b)(7)'s as well as 403(b)'s.

According to Rich Becker at TIAA-CREF, CREF is undergoing a major shift in the products they offer. Currently in Wayne you can not have a 403(b)(7), you can only have a 403(b) Variable Annuity but that will be changing as early as January 2007. Whatever the date, TIAA-CREF does plan on offering a 403(b)(7) Custodial Account in the near future very similar to the Vanguard products. For more information about TIAA-CREF visit their website.

 

  
  Also, Met Life recently (2007) added a 403(b)(7) to their list of offerings in Wayne. I like to think it's because we now have Vanguard and they're trying to compete but maybe they just wanted to offer something different. If you are definitely going to go with an Insurance Company you may want to think about this product. There are however two substantial differences between a MetLife 403(b)(7) and a Vanguard 403(b)(7). At MetLife there is an annual .6% administrative fee you will pay that you will not pay at Vanguard, and you also can only invest in actively managed funds with the MetLife product while at Vanguard you can invest in active or passive Funds.