403b RESOURCES for MUTUAL FUNDS and ANNUITIES
There are now accounts available from Fidelity
plan and
TIAA-CREF
to LAUSD teachers. See this investment
table for more information.
Notes from UTLA member meeting Saturday, March 18, 2000.
If you missed the Retirement informational meeting offered by UTLA March 18, here are some notes from that Saturday.
The first half of the meeting covered the teachers' CalSTRS retirement services and options. CalSTRS, as of January 2000, is offering eight options for disbursement of retirement funds. It is important for members to get the revised April 1999 member handbook, with the update attachment #3 on the new Option 8. Early planning can avoid major problems later. Also check you yearly statement to make sure you are credited with the proper years of service. For example, if you participated in the 1989 strike, you may have not have been re-credited with the time you went out on strike. For more information, contact STRS at 800-228-5453, Teletalk at 800-228-5453, or on the web at http://www.calstrs.ca.gov.
The second half of the workshop addressed 403b retirement accounts. Teacher Steve Schullo reminded teachers that they have three options in setting up their 403b accounts, including the "Do it yourself" route:
- TSAs which include fixed and variable annuities. The later are sometimes combined with load mutual fund companies.
- Load Mutual Funds of which about 25 are available to LAUSD teachers.
- Self-directed, no load mutual funds of which about 4 are available to LAUSD teachers.
Finally, the main message of the workshop was to encourage teachers to get involved with their retirement accounts now. You have many options with your CalSTRS and 403b accounts which you may not be aware of. You have to educate yourself in personal finance and retirement options. The resources listed on this page and provided at the workshop are NOT recommendations, but are provided as possible starting points for your information. If you can not spend time educating yourself, ask a financial advisor about your options. And if you want LAUSD to offer more options, start asking and become more involved in the 403b Aware Investment Club for LAUSD.
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