How K-12 Teachers Can Beat the Broken 403(b) System | Dan Otter & Scott Dauenhauer | 226
About this episode
The episode discusses the challenges K-12 teachers face with the 403(b) retirement system and offers insights on better options and advocacy.
What if the most dangerous thing in a teacher's retirement plan isn't market volatility, it's the nice guy with free sandwiches and a terrible annuity contract? Jackie and Bill are joined by Dan Otter and Scott Dauenhauer of 403bwise, the duo who have spent decades exposing how badly K-12 educators get treated in the 403(b) world. What starts as a conversation about confusing vendor lists and a messy system, quickly turns into something bigger. This episode covers Why the K-12 403(b) system is fundamentally broken for many educators How Dan and Scott came together through the early 403bwise movement Why sales reps were able to roam campuses and sell high-cost products to teachers How 403(b)s became a multi-vendor mess while 401(k)s evolved under stronger fiduciary oversight Why newer teacher pension tiers are weaker and make supplemental retirement saving more important How bad 403(b) vendors can cost teachers hundreds of thousands of dollars over a career Why the 457(b) is increasingly the better option for many educators How state-run 457(b) plans can offer lower fees, simpler choices, and more retirement flexibility How teachers and school employees can advocate for better…
Topics covered
- K-12 education
- 403(b) retirement plans
- financial literacy for teachers
- retirement savings options
- advocacy for better retirement plans
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