Introducing 457bwiser.org
April 17, 2026
Please meet our latest initiative 457bwise.org. This is not a number or grammatical error. Yes, the operators of 403bwise now run a site about a plan that they believe is wiser than the 403(b). To be fair, if you know anything about the K-12 403(b) you know that almost any plan is wiser than the K-12 403(b). So what’s the reasoning behind this new initiative?
The K-12 403(b) Plan Stinks
Why? How much time do you have? Here are the highlights, err lowlights…
- Expensive
- Riddled with conflicts of interest
- Low participation
- Multi-vendor
- Sales agents
- Hard to go single vendor
Why Focus on the 457(b)?
Here are the highlights…
- Ability to access money penalty-free at any age upon separation of service
- Ability to double regular contributions three years prior to retirement (if plan allows)
- Easier to go single vendor
- More fiduciary protections
- Availability of excellent, low-cost state-based plans
Wait, Aren’t We Called 403bwise?
Many might wonder why the operators of a website called 403bwise would now be championing the 457(b). Those who have followed us for the past 20 years know that educators are at the forefront of our work. We will always advocate for what is best for educators. The 403(b) can be an excellent retirement plan when managed correctly. Out of the 5,300 school district 403(b) plans we have graded, only 126 school districts earned an A, our highest grade. This means that only a fraction of school districts in the country are managing their 403(b) correctly.
To earn an A, a district must have put their plan out to bid, and must have chosen a single, low-cost vendor. This creates an environment where educators can save thousands of dollars more for retirement because they can no longer be sold unsuitable, high-cost products. (See our rating system)
Why Don’t More School Districts Go Single, 403(b) Vendor?
Unfortunately there are numerous barriers to moving to a single vendor 403(b) plan. Many states have passed laws forbidding school districts from moving to a single vendor plan. These laws are pushed by lobbying groups representing financial services companies that benefit from the chaotic, multi-vendor 403(b) environment. Even in states that permit single vendor 403(b) plans, it can be daunting to trim multi-vendor lists.
What About 403bwise.org?
We will continue to advocate for quality 403(b) plans. We will continue to run 403bwise.org. We will continue to advocate for what is best for educators. As you will learn from 457bwiser.org, the 457(b) has advantages for both educators, and employers. We now invite you to get 457bwiser…