Government Workers Must Demand Better
457 and 403(b) Retirement Plans
The article below does and excellent job of laying out the dangers ahead for those workers TRAPPED in a government retirement plan. As with anything the government runs, is rife with incompetence, bureaucracy and waste. If you are leaving your Government job and you have a 457 or a 403(b) and want control be sure to give us a call.
In the meantime read and “enjoy” the following excellent article that appeared in Forbes and written by Edward Siedle on the state of government workers pensions, It’s not pretty.
With Pensions At Risk, Government Workers Must Demand Better 457 and 403(b) Retirement Plans
By Edward Siedle
The 401(k) is, by far, the best known type of “defined contribution” retirement savings plan. However, if you worked for a state or local government, or a public school or university, you might have been offered the opportunity to invest in what are commonly referred to as 457(b) or 403(b) plans.
These defined contribution retirement plans permit largely public sector workers to defer a portion of their compensation. However, don’t make the mistake of confusing them with their 401(k) cousins. There’s a world of difference. The odds are so stacked against most 457 and 403(b) investors that they’ll be lucky if the principal they invested is available upon retirement.
In my recent article, READ MORE…