Los Angeles Teachers and all of southern California educators, MARK YOUR CALENDARS!

The U. S. Securities and Exchange Commission California office officials read the 5-series New York Times articles three years ago. As a result of reading just how pathetic and expensive the 403(b) was with public K12 school districts, they reached out to us advocates who have been voicing our opposition to the high-cost annuity which have been aggressively sold to k12 teachers for decades. Enough is enough! The SEC wanted to help with education.

This meeting is about speaking the truth to the monopoly of the high-cost annuities and the power and influence of the insurance industry sales force. No genuine fee-only fiduciary financial adviser would ever recommend annuities in 403(b) plans because of the high costs and pathetic returns. For years, the investment world have said, wrote or warned all retirement planning employees to be careful when any sales agent approaches you with an overly safe annuity.

Scott Dauenhauer, Dan Otter, and Sandy Keaton are on the panels. Finally, our voices will be heard. We thank the SEC California Offices for reading the fabulous NY Times 403(b) series three years ago and sponsoring this rare event.

You will not be disappointed!

The SEC will hold its 2nd annual meeting at United Teachers Los Angeles on October 17, 2019. All are welcome and it’s free, but you have to RSVP. 

If you cannot attend or you want to learn about the issues first so you can ask questions at this meeting, download my FREE pdf ebook, Fighting Powerful Interests, and you will discover how to avoid the high-cost annuity products and invest in quality low-cost stocks and bond index funds.

Steve’s bio:

Stephen A. Schullo, Ph.D. (UCLA ’96) taught in the Los Angeles Unified School District (LAUSD) for 24 years and UCLA Extension teaching educational technology to student teachers. Steve wrote investment articles for the United Teacher-Los Angeles (UTLA) union newspaper for 13 years. He has been featured and quoted in many mainstream media articles about 403(b) plans, including the Los Angeles Times, NY Times, and U.S. News and World Report. He co-founded an investor self-help group 403bAware for teacher colleagues and wrote 7,500 posts in three investment forums since 1997. He testified at California State legislative hearings and honored with the “Unsung Hero” award by his teacher’s union for his retirement planning advocacy.

For the last thirteen years, he serves as a volunteer on LAUSD’s Investment Advisory Committee as a “Member-at-Large” and former co-chair. The committee contains collective bargaining reps from the unions and monitors the district’s tax-deferred retirement plans, 457b/403b, of 55,000 former and current LAUSD employees, worth $2.8 billion in total assets.

He started this blog in 2012 to help all PreK-12 public school educators nationwide, especially his Los Angeles Unified School District colleagues. He belongs to a small national group of 403(b) advocates (mostly teachers) who want to bring closer attention to the 403(b). During the last 25 years, 38 newspaper articles have been published and each one says the same thing, TSAs (Tax Sheltered Annuities) are terrible 403(b) plans and the salesperson gets the benefit from lucrative commissions and high costs. Nobody in educational leadership reads these articles NOR talk about the proper place for annuity products publically. We come together at 403bwise.com. Come on over if you want to join us so we can help our colleagues avoid these self-conflicted retirement plans, TSAs.