Retirement Plan - Teacher

[eisor]

Oh. I definitely know about surprises! My long term plans aren't 100%. It's just an idea of what is to come. My 4 year plan definitely has NOT gone according to that original plan. It's just nice to be informed before it is time to make a decision.

[rob62521]

Last night we were meeting with our financial advisor. He said that in Illinois there are going to be changes made with 403bs. Right now, teachers can choose a company they want to invest with and the company takes care of the investing. He said legislation is stating that school districts in Illinois will be required to offer 403bs to teachers and the districts will then be in charge of the investing. There will no longer be a choice of where teachers put their money. No money will be matched either. He said the way it is written, teachers can sue the district if poor investments are made. Is this stupid or what????? Why would lawmakers want to force this on both districts and teachers and when so many are already strapped because of expenses, make it so they can be sued? I realize they probably want to make sure good financial decisions are made, but why force this? This is supposed to take effect in 2009.