How to choose a 403(b) TSA company and the right TSA!
Remember 403(b) is a long term investment!
You need to get the list of the approved venders (The companies), from your employer.Check the rating of the approved venders to make sure the companies are financially healthy.
Some of the 403(b) approved vender companies are Specialty and focus on the 403(b) benefits. Normally those companies operations, services and products are much more competitive.
Some of the 403(b) approved vender companies are companies that 403(b) is one product out of many other products. For example: the company does, Medical insurance, Disability insurance. Fire and casualty, Home and commercial insurance ext...And by the way they do 403(b) TSA Normally you find these companies with poor services and their product is not competitive.
It would not recommend to do the 403(B) TSA with those companies.
If you are a conservative and you do not wish to take any risks of your savings. Then you will do it with a fixed annuity! You will assume NO risk! The money is co insured!
If higher return on your money is important to you? Then you have to know that higher return has longer surrender period. The companies will buy longer term maturity bond portfolios for the higher return. Stay with the company, long term.
Some companies offer interest bonuses for transferring the money to their company. You may want to know what it will attach to ether annuitize the account with them one day or to stay long term.
If you are more aggressive and willing to take risks for the chance of higher return on your money. You can choose one of the approved mutual funds family or one of the variable annuity companies.
You need to know that there are fees associate with mutual funds and the variable annuities companies.
You will have different Portfolios to choose from.
If you like to invest in securities companies and do not know when to get in or out or how to monitor the investments. Planmember Security Corp has a monitoring and management by investment advisor that you can ask for. This will not eliminate the risk but it will reduce it and the chance to get higher return is higher
If you choose a mutual funds or a variable company you may want to know that there is fees. Unlike fixed annuities have NO fees!
Some of the mutual funds companies and or the variable companies do NOT offer Tax-Free loans. You may want to take it in account.
One more Note 403(b) is one of the best benefit you have Take advantage of it.
If you have a question feels free to call me at (310)391-4040
Moti Gur is a Registered Representative with and securities offered through
Financial Network Investment Corp and Cetera Adviser Networks LLC.
A registered broker/dealer, Investment advisor and member FINRA/ SIPC
3807 Wilshire Blvd, Suite 1040 Los Angeles, CA 90010 213-385-6237