Jump to content
Admin

Illinois Teachers to Get Low Cost Option

Recommended Posts

No offense to the veterans of this forum, but you guys bickering about acronyms in an obviously poorly written article doesn't really help people.  This turns normal people off from getting involved in their finances, and causes them to get overwhelmed, because they think they don't know enough to make a change. 

 

Share this post


Link to post
Share on other sites
9 hours ago, MNGopher said:

No offense to the veterans of this forum, but you guys bickering about acronyms in an obviously poorly written article doesn't really help people.  This turns normal people off from getting involved in their finances, and causes them to get overwhelmed, because they think they don't know enough to make a change. 

 

Hi MNGopher,

You are correct. Fortunately, the bickering is infrequent. For the most part, we have been and are on the same page with helping our colleagues stay away from the annuity sharks.  

I am human. Sometimes I get carried away because I have do so well financially in my life. I get overexcited. It really is pretty simple to attain wealth.

I was taken back by a previous post on another thread last Sunday defending the annuity salesperson and the fixed annuity. 

Have a good day,

Steve

Share this post


Link to post
Share on other sites

I haven't checked in on the forum for a while so I'm late to the party here.  I agree that the article was horribly written, but I'm cautiously enthusiastic to read this news!  My wife is a teacher and has a large chunk of money tied up with AXA.  I've been hoping  to get a low cost option added to the schools plan, but progress is slow.  My understanding is that a deferred comp plan is a 457: the 457 has many great benefits that a 403b does not so this is potentially great news as long as TRS doesn't totally screw it up.  As mentioned in the article, Illinois already offers a really great 457 plan to some state employees.  I don't know why they couldn't just replicate that for the teachers??  Have to wait and see how bad this gets bobbled, but any movement away from companies such as AXA is a huge step forward. 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×