K-12 teachers 403(b) plans aren’t covered by stringent government ERISA regulations? What the hell is that about? When NO ONE is responsible for the investment selections, bad things happen.
The vast majority of public school teachers are sold expensive annuity products that deny them the opportunity to build wealth over time. Many school administrators and union officials sit back and watch the carnage unfold, fearing the ramifications of giving investment advice.
K-12 403(b) plans are the investment world’s version of the land that time forgot. Don’t believe us? Go take your arguments to Barron’s or yesterday’s edition of the Wall Street Journal. They published an article and editorial on this national disgrace.
Better yet, watch this video I did with Josh. If this doesn’t make your blood boil, check your pulse.