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NJ Teacher Fights for 403(b) Fee Disclosure

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This teacher did a thorough job researching the costs of his 403b VA of AXA. He calculates 2.39% what others have found, about 2.25% excessive and outrageous hidden costs in most annuity contracts. None of us here are surprised.  But he indirectly tells us that he has not read any of the 30+ articles published in various newspapers around the country. Very happy he did this important work and found out himself, and he is doing something about it. I will be very interested in the bill he got his state rep to actually follow up! Wow! Imagine that here in California!

The previous newspaper articles have all said the same thing over and over again for 20 years that the 403b world is loaded with conflicts of interest, has no plans for insurance agents to disclose costs, commission and will not become fiduciaries for another generation of teachers.  

But we press on and on...

 

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He made it sound so easy that I'm going to reach out to our assembly person and press on. 

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