403bwise is a 501(c)(3) nonprofit organization.

The K-12 403(b) is broken.
Together we can fix it.
Dan's Blog

Facebook Group Share

March 10, 2020

As I have mentioned in blog posts and on our podcasts, Scott and I are blown away by the growth and activity of the 403bwise Facebook Group. As of this writing our membership has swelled to 885. We can hardly keep up with approving new members (there are three questions to answer) and responding to and monitoring all of the posts. This is a very good problem to have. It means that we have an active group of teachers from all over the country engaged in discussion about how to wisely save for retirement, how to get better 403(b) and 457(b) choices, and increasingly, how to help educate colleagues about the 403(b).

Sadly, most teachers have no idea how the 403(b) works. It's not their fault. Credentially programs don't teach this. School districts largely leave "education" to high commission sales agents. This is why I started 403bwise way back in 2000. 

With this post I am introducing a new feature: Facebook Group Share. In it, I will highlight a discussion or discussions that I think are particularly relevant to out audience. This first share is typical of so many of the posts. It's from a teacher looking for feedback on his or her vendor list. 

From 403bwise group

Hey all! Can't express the relief I felt when I stumbled upon this empire. Dan and Scott, the information you have collected and presented is priceless and the podcast is fantastic. Never stop. Only on episode #20 but making my way to the present.

My wife is a teacher in New York, we need to get moving and open an account, and I need some help. Not sure how many NY people are on here. I have my list of choices, I'm pretty sure I can narrow it down to two but I would love some advice. I work a lot and really only get a chance to check this at night but I will definitely look for feedback and try to answer questions

  • Voya Financial
  • MassMutual-Panorama
  • AXA Equitable
  • Legend Group
  • Lincoln Invest. Plan
  • MetLife
  • Mutual Financial Services
  • AXA Advisors (Formerly Goldman Sachs)
  • Oppenheimer/RNR Securities
  • Aspire Financial Services
  • NYS Deferred Comp. 457

While this teacher doesn't have Vanguard or Fidelity available, s/he can access these companies via Aspire Financial Services. Plus, the NYS Deferred Compensation 457 plan is fantastic. This is exactly the kind of feedback they got from the community. This is exactly what we hoped the 403bwise Facebook Group would be. Hope to see you there!