By teachers, for teachers.
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.
Fix My 403b was founded by a public school teacher in the northeast, Nancy Bachety. 403bTeacher contributed to her first 403(b) account within her first month of employment, with zeal. After discovering the yield was considerably lower than market results, she opened another 403(b) 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 found herself 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.
It was all part of the unfolding 403(b) 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 403(b) 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 overpay.
Follow me on Twitter @fixmy403b to see my latest posts.
Ask a question or find out more about Fix My 403b founder here.