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Avoid inactive account minimum annual fee

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Jay LukasThere is a minimum annual fee of $25 for an inactive WEAC IRA and/or WEA TSA Trust 403(b) account with balances less than $5,556 (IRA) or $7,143 (403(b)). Inactive accounts are accounts with no contributions within a calendar year.

You can avoid the fee with the IRA by making a single contribution at any time during the calendar year if you qualify. Also consolidating other accounts into your WEAC IRA and/or WEA TSA Trust 403(b) account could help reduce the amount of fees you are paying.

Give us a call at 1-800-279-4030 to review your account and discuss other factors you may need to consider when consolidating.

Jay Lukas, Assistant RIS Consultant

Find classes and resources during Money Smart Week

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Brenda EcheverriaMoney Smart Week®, April 23-30, 2016, is an annual event that offers financial education programs for people of all demographics and income levels. Each year, presentations are offered by community groups, financial institutions, government agencies, educational organizations, and financial experts to help people better manage their personal finances.

During Money Smart Week, you might learn about saving for college, buying a house, using credit wisely, managing student debt, or financing retirement. Wisconsin events can be accessed by clicking here.

You will also find interactive games and financial information, video “Money Minutes,” and resources for teachers.

Learn more at moneysmartweek.org.

Money Smart Week is a registered service mark of the Federal Reserve Bank of Chicago.

Brenda Echeverria, Financial Planner