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Apr 18, 2005 -- Teacher retirement plans unfair and corrupt

Clark has talked in the past about the mistreatment of school teachers. Teachers are usually offered very inferior retirement plans. And now there is a criminal element involved. Annuity salespeople are taking a massive chunk of teachers’ retirement savings and the teacher unions are letting it happen. Clark doesn’t understand why legislators allow teachers to have an inferior retirement plan to begin with. Now, like bees to honey, many offers available to teachers are corrupt, overpriced and unfair. Unfortunately, it’s up to teachers to provide for their own retirements. Teachers should go to tiaa-cref.org and set up a plan there. If you have your plan with another organization, transfer it to TIAA-CREF immediately. It’s safe and fair.

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What others are saying

  • education
    As hard as it is to believe VALIC is actually lower in fee then most 403b providers, ING has a product with a 15 year surrender charge! Horrace Mann's fees are higher than VALIC. Put simply research before you buy, reading these boards does not count as research! TIAA-CREF has no service you do your own investing. if you are comfortable with that fine. I know many college professors not comfortable with it. VALIC has a service called Guided Portfolio Services that manages the accounts for you. It is not for everyone but it has gotten good reviews, and its fees are much lower than The Mutual Fund Store. Shop wisely fellas.
  • Educator rip offs
    The highest fee company, VALIC/AIG sponsors union and administrator group yearly conventions.Many states, I know Idaho is one, have the investment company that handles the huge state retirement investments offer a plan where employees can contribute to a no fee 401K with excellent options. The companies do it in return for having the big contract. Thanks fot pointing out how educators are getting ripped off. TIAA-CREF is excellent advice. A superb site to learn about the rip-offs is http://www.403bwise.com/
  • tiaa-cref
    Tiaa-cref has been wonderful. As a nurse in a teacher's union, we can choose 3 retirement plans and get matching money from the employer and with Tiaa-cref's traditional annuity, my funds have risen 6 percent while the stock market has had horrible losses. No fees either.
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