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137 Matching News Items
1.
A 403(b) Plan Vendor to Consider
403bwise
May 13, 2024
403bwise
May 13, 2024
"In an ideal world, every 403(b) plan participant would have access to at least one Green vendor. In the real world, many lack access to any of them ... This post describes a good choice available from a bad vendor ... It describes key plan features, the rationale for its Yellow rating, advantages and disadvantages, plan expenses ... [and] concludes with a summary of research about the growth of [a sample] account over time, three 'need to know' facts, and six take-away action steps."
2.
New Fiduciary Rule Does Not Apply to K-12 403(b)
403bwise
May 2, 2024
403bwise
May 2, 2024
"While the new rule applies primarily to retirement savings plans covered by [ERISA], the news is not all bad for savers in K-12 403(b) plans ... [The rule will] apply to rollovers out of K-12 403(b) plans ... Participants should ask every 'trusted' advisor in the lounge if they will adhere to the new Retirement Security Rule. And if not, why not?"
3.
ABCs of ESG in 403(b)s
Barbara O'Neill, via 403bwise
Apr. 8, 2024
Barbara O'Neill, via 403bwise
Apr. 8, 2024
"This post is about an investment product that people purchase to make the world a better place. It will discuss what the letters ESG stand for, advantages and disadvantages of ESG investing, and the availability of ESG mutual funds in 403(b) plans. It also summarizes research about investors' ESG investing knowledge and attitudes and concludes with three 'need to know' facts and six take-away action steps."
4.
2023 California Teacher Retirement Pension Payout Data
403bwise
Mar. 25, 2024
403bwise
Mar. 25, 2024
"While no two state plans are exactly the same, it's instructive to see what retiring teachers in California can expect from their defined benefit plan. Keep in mind that California is one of about a dozen states where teachers don't pay into Social Security."
5.
Give Yourself a 403(b) Plan Checkup
403bwise
Mar. 11, 2024
403bwise
Mar. 11, 2024
"This post describes ten 403(b) plan checkup and five additional financial planning checkup activities. It also summarizes research about the frequency of performance of financial management practices as well as three 'need to know' facts and six take-away action steps."
6.
403bwise Remarks to Illinois Legislators on Proposed Single Vendor Legislation
403bwise
Feb. 26, 2024
403bwise
Feb. 26, 2024
"Illinois legislator Karina Villa ... is determined to fix a problem unique to K-12 employees: unvetted, exorbitantly priced multi-vendor 403(b) products sold by an army of sales agents with zero fiduciary duty. She has introduced legislation (co-sponsored by Robert F. Martwick) to require K-12 403(b) plan in the state be put out to bid. The bill would forbid the sale of products with loads and surrender charges.... [403bwise spoke] to Illinois legislators last week about the merits of this bill."
7.
F.I.R.E. or I.C.E.?
403bwise
Feb. 19, 2024
403bwise
Feb. 19, 2024
"[In] his twenties [Jonathan Clements] 'cooked up this notion' that by the time he was 40 the goal was to have saved $250,000 that by 60 could grow to $1 million. At 40 he could earn just enough to cover the bills. Implicit in this notion was that doing 'as little as possible' in your 60s was the goal.... Today, at age 61 he is on the other end of that spectrum. He's now thinking that he will never retire."
8.
Eighth and Ninth Inning 403(b) Strategies
403bwise
Feb. 12, 2024
403bwise
Feb. 12, 2024
"This post starts by discussing the process of 'ripping off the band-aid' of a high-cost vendor and getting out of a bad 403(b). It then describes the importance of continued saving through retirement age, finding money to save, dollar-cost averaging savings deposits, tax incentives to make up for lost time, and creating a retirement catch-up action plan ... It also summarizes research about 'the arithmetic of investment expenses' as well as three 'need to know' facts and six take-away action steps."
9.
Meta Effect of Being Non-ERISA
403bwise
Jan. 29, 2024
403bwise
Jan. 29, 2024
"The 401(k) is subject to protections under [ERISA]. The K-12 403(b), known as a governmental 403(b), is not.... Meta, better known as Facebook, is headquartered in Menlo Park. If they offered the same vendor list as the school district they would be sued. Why? Because of the dozens of red-rated vendors in the plan."
10.
2024 Changes Affecting 403(b) Participants
403bwise
Nov. 6, 2023
403bwise
Nov. 6, 2023
"This post describes 2024 changes affecting 403(b) plan participants including contribution limits (for 403(b)s, IRAs, and HSAs), catch-up provisions, the Saver's Credit, Social Security rules, and SECURE 2.0 provisions. It also summarizes two research studies about the impact of higher catch-up contribution limits as well as three 'need to know' facts and six take-away action steps."
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