Brothers and Sisters,
As you know the city recently contracted to change our deferred compensation retirement accounts over to TIAA-CREF. When the change occurred many members were concerned with the management of their accounts. After researching some options it was found that TIAA-CREF offers an Independent Fiduciary Advice model. We were originally told that securing this option was going to take up to a year. However, I am pleased to announce that we have secured the Advisor Services option for the Denver Fire Department. This means that members can use their own independent financial consultant.
Participants in an employer-sponsored retirement plan need to ensure the funds they contribute to their retirement savings are being correctly managed. By securing this option we have allowed participants to choose a financial advisor that they trust. We have secured the option for the independent Registered Investment Advisor (RIA) to assist in members managing their portfolio if they so choose. Participants are free to work with an advisor of their choice as long as they are an SEC or State Registered Investment Advisor. The participant provides the advisor with the appropriate authorization to manage their account and can pay for the advisors services directly out of their retirement plan accumulations.
If you are interested in receiving the correct paperwork to submit to your own personal financial advisor please email me at email@example.com and I will send you the forms necessary for this service. Forms include both the licensing information request for your advisor and the consent form for your online money managing account.
A special thanks goes out to DFD members Adam Graham, Jeff Mees, Jim Thompson and also Rex Emery of AXA Advisors for their help in securing this option.
Health and Benefits Director
Denver Firefighters Local 858