I actually just saw my endocrinologist today—same deal with me, checking my thyroid, liver enzymes, and all that stuff... I was at the Mayo Clinic, and they told me they’d mail my results, so I’ll be waiting at least a month or so. Honestly, I'm in no rush. After dealing with this mess for four years now, I think I can handle waiting another month.
But wait, are you getting those hormone levels checked because of PCOS? I have polycystic ovaries too, but my gynecologist didn't send me for those tests; my dermatologist actually requested them because of some other issues I've been having...
I've heard that if you're dealing with PCOS, taking birth control usually clears everything right up...
Ronald Allen said:Look, if I actually told you where I work, everyone in the US would know, but here’s the deal:
new member - roughly $23 net moved member - roughly $38 net
...or do you want me to just copy-paste my pay stub from OMF...?
Maybe that applies to your specific fund. In mine, it’s exactly how I described it. It’s pretty much the same deal with our banking professionals, too. This sounds like it might be an agency role, right? Usually, consultants working through an agency take home less than those hired directly by OMF.
Ronald Allen said:Look, I’m not trying to pick a fight with you or anything, and I definitely don't mean to be disrespectful. I'm just laying out the facts as I see them. I get that commission earnings and payouts aren't strictly tied together, they aren't... but in that moment, I just couldn't help but point out that your math was off regarding the total amount. I guess I phrased things a bit poorly... sorry... 😉
Commission earnings and payouts are not at all connected! I'm honestly confused why you're bringing up being insulted. If I actually said something offensive, please point out exactly which part of my post was disrespectful! As for you being mistaken about the facts—that's not really on me. I'm confident about the commission amounts because, as I mentioned, I work for OMF and DMF, so I have more hands-on experience with this than someone who isn't in the industry.
Ronald Allen said:Look, I know exactly what I'm talking about, so just trust me here; the payout is: new member - net, which is a little more than a third of the gross amount you mentioned transferred member - net, which is a little less than a third of the gross amount you mentioned Just because you work at a pension fund doesn't mean you know every single decimal point of what gets paid to whom. With all due respect, maybe don't jump the gun like that... 😉
NEW MEMBER- NET$33 TRANSFERRED MEMBER-$77 NET
If I've got it wrong, prove it! Until then, I'm sticking to what I know is true!
Michael Johnson6 said:Bankers work for a paycheck, not some commission stunt. Where do you even get this nonsense?😕???
Man, you guys are hilarious. I never said they don't work for their base pay—of course they do, just like I do! But on top of that salary, they get an extra bonus if they manage to move someone over to their OMF!
@johnny-radim, look, I actually have access to the specific numbers regarding one of these retirement funds, so believe me when I say I know what I'm talking about. To be clear: for every existing member transferred over, they get $133 gross, and for every new member signed up, it’s $60 gross. I'm honestly not sure what part of that is confusing you. Do you seriously think these funds pay their advisors out of the fund's actual returns? There is absolutely no connection between investment yields and advisor commissions. Returns are dictated by how the assets perform on the financial markets. Honestly, I struggle to understand how you can jump into a discussion like this when you clearly don't have a grasp on the mechanics behind it.
Kimberly Nguyen said:My money, my call. 👍 Look, an employer really, truly has absolutely zero business meddling in this. What business do they have explaining to me which mutual fund is "better"? One fund might show higher returns today, while another takes the lead tomorrow... I'm looking at security and stability, and frankly, my boss has nothing to do with that. They shouldn't even know which specific fund I've chosen! That's why the contributions just go through the Social Security Administration or the payroll provider, and they pass them along to the provider. It's my life savings, not a group decision.
This isn't how we carry on a conversation here.
I've honestly seen much worse than that... But how else am I supposed to point out that he's completely mistaken?😍
@Ronald Allen, I have to be honest—you’re really getting under my skin here. No one is disputing the fact that choosing your pension fund is a matter of personal preference according to federal law. Of course it is. But let's look at the reality: when you walk into a place like Chase, feeling a bit desperate and asking for a mortgage, and they tell you that getting approved depends on switching your retirement plan over to their fund, what are you actually going to say? "I'm sorry, but I already have a provider and I'd really prefer to stay put"? Yeah, right. Most people will jump through whatever hoops they have to just to secure that loan. That’s the point I'm making! A bank teller gets a $133 gross commission for every single person they convince to move their funds over to them.
Ronald Allen said:Nobody is forcing anyone to switch to an Asset Management firm for any reason. At least, from everything I've heard, that just hasn't happened. I mean, when people take out loans, they might sign up for insurance policies or put down a deposit as collateral—that's standard. But everything else regarding Asset Management is, like you said, totally up to you. No one can make you move your funds there. It's just like choosing a specific savings plan or something... it's a personal choice.
See, I don't think you quite have the full picture here. While it *should* be a matter of personal choice, in practice, it often isn't. Sometimes an employer will even make certain fund selections a condition of employment if you want the job, not to mention how credit terms are handled... where exactly are you living? Moving money from one fund to another incurs fees (which go to the advisors), and it turns out that almost everyone—from bank employees to various small business owners—acts as an advisor or agent for certain funds just to earn commissions.
Alice said:ironsurfer10, I’m sure your doctor is highly respected in his field, but I’d guess he might not be specifically trained or certified in ortho-k, which is why you might be losing him as a patient . Sorry, 🤷
He isn't a private practitioner; I see him through my insurance, and since he has a pretty full schedule, I don't think he'd particularly care if he lost a few patients... so... my hunch is he didn't advise against those lenses for personal reasons, but for genuine medical ones.
Hannah Barnes24 said:🤣 🤣 🤣 🤣 Well, obviously... what else is there to say? It's not like he'd want to talk himself out of a job or take away your ability to research things yourself, right?
My eye doctor doesn't really care whether I wear these specific lenses or others... he's a highly respected specialist at a major Mayo Clinic facility, and I trust his judgment. He told me that these lenses unnecessarily compress the eye overnight just so you can see clearly the next day. He thinks it just stresses the eye out without letting it "breathe" properly during sleep—since the eyelids are closed and then you add a lens on top of that. Because of that, he doesn't recommend them... that's pretty much the gist of it.
With an attitude like that, you aren't going to get very far, but hey, everyone is entitled to their own opinion...
Here are the returns through November 30, 2007:
ROMF -5.33%; since inception 7.69% Vanguard -3.83%; since inception 6.77% Zions Bank -5.40%; since inception 7.60% Erste Bank -4.07%; since inception 7.88%
When you're picking a fund, you really ought to look at the returns since its inception; that’s a much better indicator than just looking at what happened this year. Erste Bank shows the highest return since starting, though that's partly because they haven't been operating quite as long as the others. ROMF has been around for about five years now—the same length of time these funds have existed—and it actually held the top spot for two of those years, only stumbling a bit last year.
If you want some more detailed advice, feel free to shoot me a private message!
Steven Reed said:I’ve always been a firm believer that if someone is up to something illegal, you report it. If anyone ever came to me asking for something shady, I’d make sure the FBI and every major news outlet in the country heard about it. People seem to think that standing up to a bank means they'll never get a loan again—which might be true for that specific branch, but thank God we have enough banks in America now to just shop around elsewhere. 🤷
Exactly. We actually had a dispute with Erste Bank quite recently. One of our members—who was targeted by those sleazy street agents trying to lure people in with promises of easy credit—has already filed a formal complaint with the CFPB, and it's currently under investigation. We also had someone tell us that he switched from our Vanguard fund over to Erste Bank because he was acting as a guarantor for his daughter's loan, only for her to be denied the credit anyway! We gave him the same advice: file a complaint with the regulators and see what happens. Honestly, Erste Bank has become incredibly arrogant this year, likely just because they had such high returns last year.
Mark Sullivan62 said:Man, you totally spooked me there, 🤣
I actually had to go back and dig up what I wrote a few months ago just to make sure I wasn't losing my mind, 🤣
but yeah, no, I haven't found an answer, and honestly, I haven't even really put in the effort to hunt one down lately,
so if you actually do know the deal with how those accounts move, I’d be seriously grateful if you could drop the info here, because who knows, maybe someone else reading this is stuck in the same boat too.
So, looking at it this way: if you contributed, say, $333 into an Erste Bank voluntary retirement fund this year and now you want to switch over to something like a Vanguard target-date fund to put in the remaining $1333 to maximize your retirement savings, you'll end up with the full amount of $1667 in the Vanguard fund. You still have time to make the switch, but just keep in mind those exit fees. I'm not sure if the math actually works out in your favor... while the Vanguard fund performs really well, if you have a significant balance sitting in Erste Bank, those exit penalties might end up costing you quite a bit...
Kimberly Nguyen said:NOBODY can force you to switch your pension fund
The specifics regarding YOUR chosen fund are strictly confidential—not even your boss gets to know...
I can't pull it up right this second, but I'll dig up a link for you... it’s probably tucked away somewhere on the FedEx website
I’ve actually heard rumors that certain banks... hmm... they basically blackmail their clients by forcing them to move their funds over to the bank's own preferred provider just to get a mortgage approved
And people just stay quiet because, well, life happens, but even if they wanted to file a formal complaint, they wouldn't have any actual documentation to back it up
Yeah, what you heard is true. That kind of behavior is illegal, and these are exactly the types of things that need to be reported. I honestly can't wrap my head around why people just stay silent. Everyone seems to be waiting for things to fix themselves, but that's never how it works.
electricsailor13 said:I’m currently at JPMorgan Chase and I’m doing just fine 👍 besides, I have zero intention of relying on Social Security once I retire. By then, those checks will barely cover the cost of a single lunch at a college cafeteria, so...🙂
I really don't get why everyone is being so skeptical about this new retirement system structure. Personally, I'm actually feeling optimistic; I'm hoping for better, higher payouts down the road!
@ Edgar, I read your post about switching over to those private retirement accounts and 401(k) plans. Did you ever end up getting an answer, or are you still looking? I actually work in the pension industry, so I might be able to help if you need some insight.