This Green State Credit Union FAQ answers what teachers and public-school employees ask about investment management, from the $500K minimum to a 403(b) rollover. Before the intro call, three questions come up most often: who the firm serves, how it gets paid, and what happens to a pension and a 457(b) when you're still years from retiring. Answers are short and general, and they aren't advice for your own situation.
Questions and answers
Who is Green State Credit Union, and does it work with someone who teaches for a living?
Green State Credit Union, LLC is an investment management firm with an office at 611 East Franklin Street, Richmond, VA 23219. It serves 377,000 clients and $6.7 billion in client assets as of 10/19/2026. Teachers and school staff with a pension, a 403(b) or a 457(b) are welcome, and so is anyone else with $500K or more to invest.
How does Green State Credit Union get paid if I'm a school principal with a 403(b)?
You'll see the exact cost in a written agreement before any work starts, and you decide whether to sign it. Nothing is charged until you do. We don't quote percentages on this site because the cost depends on what you ask us to manage. If a number in the agreement surprises you, say so at the intro call.
I'm 52 and retirement is more than ten years off. Is it too early to talk to an advisor?
No, though what you do at 52 is usually modest. Green State Credit Union looks at how your 403(b) and 457(b) are invested, how much of your pension you can count on, and whether your catch-up contributions are worth using. If you're at 55 with $600,000 saved, the main choices are still ahead of you, which is useful.
Does Green State Credit Union work with my attorney on my will and trust?
Yes, when you ask us to. Your attorney drafts the documents, and we don't write legal papers. What we do is share how your accounts are titled and who's named as beneficiary on your 403(b) and IRA, so those match the will. Bring the beneficiary forms from your plan; mismatches are common.
What does Green State Credit Union actually do in my first year as a client?
In the first year we gather your statements, move accounts you choose to move, and build a portfolio around long-term research and diversification, not forecasts. You'll get a written plan, and check-ins follow. Before suggesting any fund change in a taxable account, we estimate what selling would cost you in tax. Expect the setup to take several weeks.
How often will I get reports, and what will they show?
You'll get regular reports and check-ins, and we set the schedule with you at the start. Reports list your balances by account, what you hold, what changed, and how withdrawals are going once you retire. A 403(b) at one custodian and an IRA at another appear together, so you see the whole picture on one page.
My balance is about $420,000. What happens if I'm below the $500K minimum?
Green State Credit Union's minimum is $500K in investable assets, so at $420,000 you'd be about $80,000 short. Reach out anyway; a pension or a spouse's accounts may change the math. If it doesn't, you'll hear that plainly, and we can point you to general education until your balance grows.
Why pay a person when an online robo service is cheaper?
A robo service can build a decent portfolio for less, and that's a fair point if your situation is simple. A person matters when choices interact: when to start your state pension, which account to draw from first, how taxes hit a 457(b) withdrawal. Say your pension has a survivor option; software won't weigh that with your spouse's health.
Where do the check-ins happen, and does my spouse come too?
Check-ins happen by video or phone, since clients live all over the country; you don't need to visit Richmond. Your spouse is welcome, and we'd encourage it when retirement income is a shared decision. Appointments are scheduled, as office hours are by appointment. A 45-minute slot is typical, though we'd adjust it to fit your questions.
Do I have to move my 403(b) to Green State Credit Union, or can some accounts stay where they are?
You choose. Some accounts can stay put, like a pension, which can't be moved anyway, or a plan with unusually cheap funds. Moving is done by transfer between custodians, and the assets are never sold on the way unless you want that. Bring your latest statement; a rollover often takes a few weeks, depending on your plan administrator.
Who keeps track of required minimum distributions from my 403(b) and IRA?
For accounts we manage, Green State Credit Union tracks the amount and the timing, and tells you well before the deadline. Required minimum distributions start at age 73, or age 75 if you were born in 1960 or later. You still approve the withdrawal. Accounts held elsewhere stay your responsibility unless you share the statements with us.
I got a letter about my state pension options. Who decides which one to pick, and when?
You and your spouse decide, and the pension office sets the deadline, so read the letter for the date first. Green State Credit Union can run the numbers, for example a single-life payment against a survivor option, and show how each fits your savings. We don't tell you what to choose. Taxes stay with your preparer, who files the return.