Monday, January 12, 2015

From a currently employed ICMA-RC employee on not getting enough extra revenue producing "Managed Accounts"

The following are excerpts from a form letter sent to ICMA-RC "Retirement Plans Specialists" who haven't been living up to ICMA-RC expectations;

The point of ICMA-RC "Retirement Plans Specialists" meeting with Greensboro's employees are to sell "Managed Accounts".  The fewer the appointments with employees invested in lower cost mutual funds in the plan, the fewer "opportunities" to rake more money out of Greensboro's employees;

From Greensboro's March 31, 2014 Plan Service Report, page 77;

Greensboro's employees are getting jacked another 0.60% on top of the fees already paid, by having ICMA-RC "Retirement Plans Specialists" sell higher revenue producing investment vehicles.

Back to the Whistleblower's letter;

ICMA-RC uses the guise of a management association to rip off municipal employees across the country, with the most likely unknowing consent of the management teams responsible for looking out for their employees best interests.


Please help save $35,122,520 for City of Greensboro employees

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Please support Charlotte, North Carolina in saving $22,048,780.40 for their employees invested in ICMA-RC's 457 retirement plan

401k, 457, 403b's and the Federal Government's Thrift Savings Plan

Suggested City of Greensboro ICMA-RC fund changes by James Weight, Director, Relationship Management, Mid-Atlantic Region

"TriMet's 401(k)-type plan on the screen behind him and said that, outside the federal government's Thrift Savings Plan, this was "the best I've ever seen."

How Jim Westmoreland, Mary Vigue and ICMA-RC's lobbyists shafted Greensboro's employees

Greensboro ICMA-RC 457 plan fund alternatives which City management refuses to look into

Emails between City of Greensboro, Charlotte and some Winston Salem employees and their 457 Retirement Plan Provider