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CCC Willamette ESD Authorized Vendors
ALERT!!
Effective 08/08/2008, no changes will be made to CCC’s legacy
website, now with Internet address www.ncompliancelegacy.com. Henceforth, www.ncompliance.com
goes directly to CCC's new, dynamic, database supported website.
For many months now, CCC has been developing and testing a new, dynamic, database-supported website,
which now resides at www.ncompliance.com, while at the same time maintaining this website, which is
now our legacy website (www.ncompliancelegacy.com). Development of the new website was essential to
allow CCC to provide dedicated sections of its website to more than 50 new clients accumulated since
publication of the Final 403(b) Regulations on July 23, 2007. We chose completion of the Plan Document
System on the new website as the appropriate time to migrate from the legacy website, even though
considerable work remains to be done. Specifically, we will be working with Vendors through the end
of calendar year 2008 to incorporate updated Vendor information into the new website. Moreover, 457(b)
Deferred Compensation Plan (DCP) information remains only on this legacy website, but those CCC clients
for which we are managing their 457(b) Plans may continue to refer to this legacy website until the full
migration has been accomplished.
We are very proud of our new website, especially the Plan Document System and the Content Management
System (CMS), which allows Client Employers and Vendors to manage the content of their own sections of
the website. We hope you share our enthusiasm and will create links form your own websites to your
dedicated sections of the CCC website. Doing so will provide everything your employees need to know
about their 403(b) Program.
Notice: Transition To New
Information Is Underway
Implementation of the Roth 403(b) contribution option required contacting
all authorized vendors to determine whether or not they would accept Roth
403(b) contributions. We decided to incorporate that effort in a more
comprehensive project to obtain and/or update vendor information for the
website. To date, we have received responses from most of the authorized
vendors, so this new information is being incorporated into the list of
Authorized Vendors to the right. Generally, clicking on an Authorized
Vendor will take you to a separate page on the CCC website that provides
all of the information the vendor has provided to CCC, including local
contacts when applicable. Until all vendors have been updated on your
District’s list, “(new)” will appear beside the vendors
for which new information has been incorporated. Once new vendor information
has been incorporated for all vendors on your District’s list, all
of the “(new)” designations will be removed.
Basic Information About Vendors
Some authorized investment companies have numerous local financial agents
authorized to do business on their behalves. Others have no local agents
at all.
On the other hand, some local financial agents represent more than one
authorized investment company.
The list of companies to the right includes the most recent information
available about companies on the Willamette ESD
list of authorized vendors. The links are designed to assist district
employees in learning more about specific authorized vendors and their
products and to contact company representatives for additional information.
It is the responsibility of the company or agent and the employee to
make sure the vendor receives the company application before contributions
are sent to the company by the District. A copy of the company application
is required when submitting a Willamette ESD Salary
Reduction Agreement upon initial plan enrollment and upon starting
up contributions to a new authorized vendor.
If you are interested in contributing to a company that is not on the
current authorized vendor list, click
here for the steps required to add this company to the authorized
vendor list.
Basic Information About Products
Investment products for 403(b) plans may be broken down into the following
investment types:
- Fixed Annuities
- Variable Annuities with a Fixed Account
- Variable Annuities without a Fixed Account
- 403(b)(7) Custodial Mutual Funds (No-Load)
- 403(b)(7) Custodial Mutual Funds (Load)
- 403(b)(7) Custodial Mutual Funds (Deferred Sales Charges)
Various authorized vendors may offer one or more of these types of investments.
Look for fund profiles, performance, prospectuses, and fees associated
with specific authorized vendors in the column to the right for information
about particular offerings.
Investment products for 457(b) plans are similar to those for 403(b)
plans. More information is available at the links to 457(b) service providers
in the right-hand column on this page.
Basic Information About Marketing
Generally speaking, authorized vendors market their 403(b) investment
products using one or more of the following approaches:
- Agents Who Are Contracted Exclusively with the Vendor
- Independent 403(b) Practitioners
- Regional or Central Office Employees
- Seminars, Meetings, and/or Brochure Distribution
- Websites
For more information about marketing of 457(b) plan products, see the
links to 457(b) service providers in the right-hand column on this page.
How Do I Choose An Investment?
Participation in these programs is voluntary and each employee is responsible
for the selection with a maximum of three 403(b) vendors and/or three
457(b) vendors at any given time. Considerable information about each
authorized vendor is available at the web links provided for that vendor
in the table to the right. You may also want to consult with your own
stock broker, tax advisor, financial consultant, or insurance agent. Neither
Willamette ESD nor Carruth Compliance Consulting, Inc. is
allowed to offer any investment advice, promote any one product over another,
or evaluate, monitor, or recommend companies authorized to sell 403(b)
annuities, 403(b)(7) custodial accounts (mutual funds), or 457(b) investment
products..
Before contacting companies, you should try to learn about some of the
different investment opportunities available. Numerous books about money
and investments are available in bookstores, from libraries, and on the
internet, including the Wall Street Journal's "Guide to Understanding
Money and Investing" and Consumer Reports investment ratings. Also
available is Morningstar's "Variable Annuity Performance Report,"
which evaluates the underlying investments of many annuities and mutual
funds. Additional useful web links may be reviewed by clicking
here. Learning basic information will help you decide how to invest.
There are some levels of risk in any type of plan you chose. Generally,
the more risk you take, the higher the potential return. Make your decision
on which type of plan you want and how much risk you are willing to take.
Beware of investments with fees or loads
that are excessive or hidden. Many investments have declining fees over
time or charge only a low one-time fee each year. Avoid annuities that
advertise a high rate of interest that is only good on the money invested
initially. After the initial period at the high rate, the money may earn
a lower rate.
Positive signs of a good product are ones that have flexible payout policies
once you retire. Look for solid ratings for the investment company in
A. M. Best, Standard & Poor's, and Moody's. Check to see how well
a given investment has performed against the industry average for similar
investments. A good company will be proud to show you their performances
in these areas.
Before committing to any 403(b) or 457(b) investment, ask the following
questions:
- Will I be penalized for pulling my money out?
- What are my investment choices within the company?
- What annual fees will I pay?
- For annuities, how is the insurance company rated?
What If I Need Investment Advice?
One large insurance and annuity company advertises that it "manages
money for people who have other things to do." Some investment companies
offer enhanced products that include investment and financial advice,
usually for an extra fee. Check out some of the products and services
offered by companies on the authorized vendors list to see if they offer
such investment advice to clients. The more common situation is for employees
to secure the services of a financial advisor, sometimes referred to as
a financial planner or a financial representative.
How Do I Choose An Advisor?
It's been said that some people spend more time on choosing an automobile
to purchase than they do on selecting a financial advisor. If that observation
has a ring of truth to it, it may be because people are familiar with
the daily driving experience and the ease of deciding what they want.
In contrast, financial management is a task that, for most people, involves
decisions and considerations that they know little about. They also find
it difficult to assess the qualifications of those who provide financial
services. The following web links provide helpful information about selecting
a financial advisor.
Contact us if you have questions
about any of the information provided on this page.
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