Comparisons between public- and private-sector benefits are understandable; indeed, such comparisons are often a large factor in employment decisions. But the variety and types of employers — and workers — covered by programs that operate under the auspices of 403(b) plans are extraordinarily diverse.
So much so that viewing 403(b) plans as a monolithic entity generally produces misleading results, despite the commonality of the Internal Revenue Code that supports their foundation. Like apples, 403(b) plans come in many varieties. However, to compare a 403(b) plan to a 401(k) plan is comparing apples and oranges.
The following whitepaper from the National Tax-Deferred Savings Association details, in depth, exactly why. It also explains why teachers in the K-12 market are saving more for retirement today than their counterparts in corporate America.
Moreover, through access to a robust set of options and the freedom to exercise choice, guided by personalized and individualized connections with advisors, today’s teachers are supplementing retirement assets which otherwise might fall short of needs and expectations.
Put simply, the ability for each teacher to choose from a variety of vendors and advisors to best fulfill their retirement savings needs positions supplemental retirement programs in the right place — and at the right time — to enhance retirement security for one of our nation’s most valuable resources, public school teachers and staff.
CLICK HERE FOR THE FULL WHITEPAPER
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