Our vibrant infographic shows the importance of not just allowing teachers to save through work, but to let them choose who manages their accounts.
Some of the key highlights are:
- Over half of the workers in 55 studied school districts stopped contributing to 403(b) plans when their preferred provider was not available
- Consolidation of providers in Colorado led more than 54 percent of participants to drop out of their retirement plans
- Teachers, like all of us, need help making the right financial advice; a study by Charles Schwab showed that teachers’ savings rates nearly doubled as a result of receiving and implementing advice from an advisor of their choosing