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JLF

The Psa

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PSA stands for Professional Staff Association. These are the people that work for teacher unions. They help local affiliates negotiate collective bargaining agreements. They in turn have their own collective bargaining agreement with their employer, the teachers' union. These agreements include a retirement program. For example, the New York State United Teachers maintains a 401(k) Plan for its PSA. Let's find out the details of these kinds of plans that are maintained by many teacher unions throughout the country. Steve, can you tell us about the situation in California? I'm going to look into the NYSUT/PSA 401(k)Plan to see how it measures up to the expensive ING 403(b) Variable Annuity endorsed by the NYSUT for investing by the state's teachers. Let's conduct a national survey. Can someone look into the AFT Plan, the NEA Plan?

 

Peace and Hope,

Joel

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The PSA of the NYSUT enjoys a no-load 401(k) offering through Fidelity Investments. This is the same NYSUT that "endorses" the high cost ING Variable Annuity for 403(b) investing by all of its dues paying members. Hows that for the pure contempt and utter disrespect of the membership.

 

What is the situation in your state?

 

Peace,

Joel

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