ETF-fueled retirement plan launched

Sep 10, 2008 @ 2:52 pm

By David Hoffman

Efficient Market Advisors LLC of Del Mar, Calif., announced today the launch of the first 403(b) retirement program offering professionally managed portfolios of exchange traded funds.

The California State Teachers' Retirement System (CalSTRS) approved the “Efficient 403(b)” for sale in all 982 California school districts, according to an EMA statement.

Sacramento, Calif.-based CalSTRS is the largest teachers' retirement fund in the United States.

Other states are expected to follow suit, according to the statement.

403(b) plans — which are similar to 401(k)s — are retirement plans for employees of certain tax-exempt organizations such as public schools, universities, hospitals and non-profit groups.

"I am extremely pleased to bring a professionally managed and cost-sensitive vehicle to 403(b) participants in California,” Herb Morgan, chief executive of Efficient Market Advisors, said in the statement.


What do you think?

View comments

Recommended for you

Featured video


Female leaders highlighted as future of financial advice

InvestmentNews recognized 20 Women to Watch for their efforts to advance the financial advice industry.

Latest news & opinion

Merger mania: Why consolidation in the RIA space is about to explode

The pace is expected to pick up as big firms seek to get even bigger and older advisers look to cash out.

Voya Financial Advisors exposes more sensitive adviser information on its website

List of top advisers at the firm comes after Social Security numbers were put at risk.

Securities America hit with lawsuit seeking $18 million in damages

Firm is dealing with the fallout from a rogue broker it fired a year ago.

Brian Block continues his legal fight to stay out of prison

A judge denied Mr. Block's motion for a new trial, but he wants another day in court.

10 social media stars you're not following yet, but should be

Some of the great people using social media to discuss wealth management and financial advice who might not be on your radar.


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting It'll help us continue to serve you.

Yes, show me how to whitelist

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print