The Cellar Security proposal

[wolf]

Originally Posted by lookout123

wolf, i'm guessing that one of your 403(b)'s is from a previous employer? if so you will generally be better served by rolling it into an IRA.

It's kind of a long story, but what happened ...

We had a bad fund company once upon a time. A breakaway group of employees decided that we wanted to have our own 403(b) with a very, very large company that happens to have offices locally. We were unable to convince the whole hospital to go with their stuff, but the hospital agreed to send our 403(b) $$ to our hand-selected company over which we actually had some control, and a wider range of choices of funds to pick from. The hospital even put up with the for quite a few years. Then they dumped the old financial management company, and went with a new one, one that was irrevocably tied to the bank that they also switched to as new customers. There was nothing wrong with our old bank, incidentally. I assume they got the $25 gift for signing up for the new account, as well as some keychains and pens with the new bank's name on them, because once again we got locked into a situation where the company had a lot of different fund offerings, but we were only allowed to choose from 10 of them.

Oh, and the hospital said it was too much trouble to allow us to continue to contribute to our nice plans that had been working out quite well, so we wouldn't be allowed to say what we wanted done with our money anymore.