Fleecing 403(b) Plan Participants
In the final article of his seven-part series "Fleecing 403(b) Participants," Scott Simon summarizes his views and recommendations on the critical issues facing retirement plans for school districts, hospitals, and other not-for-profit organizations. He defines what he believes are the model characteristics of a 403(b) plan: participant-focused, transparent costs and diversified investments. He asserts that plans need to eliminate multi-provider models and annuities in favor of mutual funds, as well as retain a consultant and legal counsel. The article is a helpful summary and a fresh look at an industry in need of a major overhaul.
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