403b sales tactics – don’t be fooled!

The beginning of the school year is here and 403(b) vendors are gearing up their marketing activities. These may include mailings to your home, email solicitations to your work email, or offering free lunch in the faculty lounge. 
  Many vendors will offer to provide information on your CalSTRS or CalPERS benefits or say they are “approved by the district.” These can be strategies to secure an appointment to sell you a high-fee 403(b) product. 

  CTA endorses one 403(b) product called The CTA Retirement Savings Plan offered through the CTA Voluntary Retirement Plans for Educators, LLC. This plan offers lower fees and has easy investment choices for the hands-off investor. Enrollment is on-line at www.CTAretirementplan.org with phone support. For more information on the plan you can visit www.CTAMemberBenefits.org/rsp. 

  Don’t be pressured into making a quick decision on your 403(b) plan. Some products carry high fees and surrender charges. Representatives should identify all fees and surrender charges and disclose how they are being compensated. For more information and help, read The CTA Educator’s Retirement Planning Guide. 

  You can compare other 403(b) plans including fees and performance, including the CTA Retirement Savings Plan, on www.403bCompare.com.

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