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MNGopher

VALIC settlement with Florida teachers

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https://www.wsj.com/articles/aig-unit-to-pay-20-million-to-settle-sec-probe-of-teacher-retirement-business-11595941081?st=450wa1z5z9qabty&reflink=article_imessage_share&fbclid=IwAR3gjMXHvOuGa9m8roP0njjLUzZ8bnELB7-p3o8-Vs1KWFepXKUVPFBhpZw

Dan Otter posted this on the Facebook page, in case anyone hasn't seen it yet.  Looks like a step in the right direction in placing some accountability on the insurance companies that prey on educators.

 

 

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This case shows us that the defined contribution world is also a business, and very lucrative one, for the professionals who consult and keep records and unfortunately, teachers are the one group that is still unprotected. 

Its too bad we cannot find out more details such as who created this "system" that is suppose to be good for Florida's teachers?

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