We say all the time how great people are who become teachers. These individuals work overtime to teach our children and very often get little in return. But teachers have been taken advantage of for as long as Clark can remember, especially when they retire. First of all teachers don’t have access to the same retirement plans that other workers do. Instead they are forced into 403b plans, which are inferior in nature to 401k plans. Even worse, they’re offered very few choices and most of them are horrible annuity plans. In the worst cases, teacher’s unions are handling the retirement plans and are taking kickbacks for putting teachers in a certain annuity. In New York, for example, the New York State United Teachers union gets a $3 million kickback to put teachers in these plans. If you’re a teacher, you need to know about this and take action. You can transfer your money tax free to two low-cost companies. The companies with the lowest costs are TIAA-Cref and Vanguard. TIAA-Cref is cheaper than Vanguard, but both are much better choices than any kind of annuity your union is pushing on you. If you have friends who are teachers, please let them know. Click here for the full story (free registration may be required).