In K-12 403(b) plans, employees and their unions can be their own worst enemy
Distrust between school districts and unions, as well as potential financial incentives, factor into lack of reform.
Defined contribution plans for public school teachers are notoriously poor retirement plans, often described as a Wild West of sorts that's plagued by minimal plan oversight, subpar investment options, and fund and insurance brokers who are free to walk into schools and sell products to teachers.
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