Confused about your 457 or 403(b)? Ask a teacher, not a commissioned sales rep. Trust, then validate.
We’ve been there. It’s hard enough being a teacher today, or any day. The responsibilities are endless and the rewards, vast and immeasurable. That doesn’t mean you should pay more than other employees for the same thing.
Yet, that is what is happening today and has been happening for decades. And it’s not just that way for some teachers. It’s most if not all of them.
Our mission is to educate 403b participants enough to confidently decide their best course of action.
Fix My 403b was founded by Nancy Bachety, a public school teacher in the northeast. Nancy contributed to her first 403b account within her first month of employment, with zeal. After discovering the yield was considerably lower than market results, she opened another 403b account with another vendor and sought to find out why her investment account was markedly lower than stated returns. The answers were unexpected and unacceptable.
After embarking on much research and networking, Nancy was among a collection of teachers interviewed by acclaimed New York Times financial news writer, Tara Siegel Bernard. It turned out that she was not to be blamed for the embarrassing poor investment choices or the commissioned salesmen’s selling strategies. It was all part of the unfolding 403b debacle that has current teachers, healthcare staff, clergy and non-profit employees stuck with inferior plans and no end in sight. Many have documented their stories which you can read here. Our mission is to educate 403b participants enough to confidently decide their best course of action.
We are here to help sort it out for others. And perhaps prevent others from falling prey to the system designed to make teachers fail.
Ask a question or find out more about Fix My 403b founder here.