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Stopping the 403(b) rip-off!

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Let’s hope that the Supreme Court decides to hear the Tibble case regarding 401(K)plan fees.  And, let’s hope that 403(b) fees end up being scrutinized as well as a result of the case.  Unfortunately we see many teachers in Pennsylvania getting ripped off by 403(b) providers who are “endorsed” by the school districts.  The endorsement process is nothing more than a political system to get their name on a list.  It is not one that scrutinizes products and fees that are being charged.

So, we will be watching the outcome of this case and hopefully we will report back with good news.  In the meantime, work with an advisor who doesn’t have a product to sell to you and who is forthcoming about what investment advice and products cost.  Ignoring the costs can cost you tens of thousands of dollars in lost investment value due to the fee drain that you don’t see, but is there!

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