My school district has indicated that they will try to get all non-teacher and temporary teachers to leave the Social Security system and instead enroll them in a 457 plan - already established by the state of Massachusetts. This would save them approx. $75,000. (Mass. teachers are not part of Social Security)
My questions is, if the district becomes part of the state's 457 plan for these employees, would the full time teachers (like me) then become eligible to participate??? I know 403b regs pretty well, but have no experience with 457 plans.
Our new 403b options are horrible, and the state 457 plan has seemingly low fees and great options - including setting up a brokerage account with TD Ameritrade.