Just got email from my Union. Blackrock is now trying to take my pension...WTF

[link to youtu.be (secure)]

Are there other non-blackrock options?

Should have nothing to do with your pension, sounds more like your annuity fund or 401k has some mutual funds that are closing. They've found a "comparable" fund with similar investment objectives to roll the money into.

I noticed my union funded annuity I have at fidelity just did the same to me, they closed and rolled some of my best performing funds into some targeted growth funds that I had zero interest in holding. Most likely you have other funds to choose from, they will just "default" the rollover to the blackrock funds unless you act. That in itself seems pretty shady, but you should be able to easily reallocate the funds to different funds if you want.

Hopefully you have more investment options than we do...fidelity has thousands of mutual funds to choose from, however, we only have access to about 20 of them....and not a single index fund in the bunch.

Apparently they are giving me no option

But I will definitely be calling them on Monday

Apparently on the last page of the PDF. But there is only one page

DUDE, you have no idea the depth of what you've uncovered.

The October doom must be REAL this year!

OMG, pray people! They're really going for the global financial collapse/reset.

No shit
I have been watching so much about Blackrock/Vagabond buying up everything
But this is now personal
They are taking me pension

One thing that would slow/halt this if the top execs at blackjack, vanguard, et al were stalked and hunted down.

Have you ever logged onto their website? I can change out my investment options pretty easily on the fidelity site. Not so sure about sun life, though.

Another work around I've used was to borrow against the annuity. We're allowed to take up to 20% of its value you just have to pay off the balance in the agreed upon timeframe, which is usually 5 years or you pay a penalty + taxes. You're basically paying off principal and interest to yourself over the next 5 years.

I took that lump sum of money and invested it in the mutual funds I wanted, not the ones these clowns "allowed" us to purchase. I paid back the balance in monthly payments, even used some of the gains on new funds to pay it off early. Did this a couple of times already and now have a better diversified portfolio of funds I chose.

To compare, my annuity with the union has returned 34% since inception, while the new account of carefully selected funds has returned 105% in less than half that time frame.

Yes I am sure I can change it

But what I am trying to point out is if people do nothing it automatically goes to Blackrock

I agree with you 100% that is pretty messed up. At least you actually read your financial statements, the bulk of my union brothers couldn't tell you what their money was invested in if their lives depended on it.

Gonna keep my eyes peeled and see if they try and push that blackrock shit on any of us.

yes,in the mail, there was a opportunity / prospectus package from broker for both vanguard and blacrock with letters of recommendation

it is kinda like being invited to a fancy dinner, and finding out the main course is your right foot

You and a bunch of other blue names are full of 9/11 shit today.

So please Fuck Off and Die already you stupid cunts.