403(b) Reform? Here are my dreams!
Hi colleagues!
This blog post is an unfortunate repeat of what is wrong with the aggressive selling of abysmal annuities with self-conflicting advice from the insurance agents that are everywhere on school campuses. Despite 25 years of our small band of 403(b) advocates doing everything we can to get our nation’s 4 million educators attention, nothing has changed in the 60-year history. That’s right! Since 1961 the chronic selling of inappropriate, costly and pathetic returns commonly known as the TSA (tax-sheltered annuities) in public k12 403(b) plans continues without a hitch. To change a monumental fixture on school campuses, unions and districts require setting up goals of what needs to be changed. Right now the 403(b) is a lucrative money maker for the insurance agents and their insurance companies. We want educators to invest their money like our pension plans do, in the stock and bond market, safely and productively with your best interests in mind. Just take a peek at my most recent portfolio in my blog. I publish my portfolio performance every quarter for years.
What is a modern and up to date 403(b) plan that takes care of the educator’s best financial interest for a change?
Take a look at our dreams of 403(b) reform with public K-12 school districts and the positive developments that have been accomplished.
Steve