But “happily ever after ” fails and we’ve been poisoned by these fairy tales. The lawyers dwell on small details. – Don Henley
Its been a long and lonely ride for us and our small group of allies. Our voices often overshadowed by legions of deep-pocketed morally challenged insurance companies. Their money funding lobbyists and congresspeople with little interest in protecting ordinary American investors from financial predators.
We tried taking the fight to them.
The most 403(b) swag you could ever see. Dina's testimony before Congress should be mandatory viewing for all Teachers, Administrators, and Unions. #403badlands pic.twitter.com/1Ra3QzmGjk
— Anthony Isola (@ATeachMoment) October 17, 2019
Those lonely days are over. The battle has been joined. Both the SEC and NYS are gathering evidence on shady practices in the land that time forgot – Teacher’s Non-ERISA 403(b) plans.
SEC Chairman, Jay Clayton, is a man on a mission.
Referring to the teacher’s 403(b) issue he states, “I think this is where the American people would expect we spend our resources,”
Maybe this time the lawyers won’t be able to clean up all the details.
Unlike Don Henley’s song, the innocence in this retirement space never existed.
Teachers have been poisoned by fairy tales and high fees for far too long.
Here’s my quick take.