Illinois educator-turned state legislator Karina Villa — who was once sold an unsuitable, high-cost 403(b) — proposed a K-12 403(b) reform bill that would have ended front-end and back-end loads. It would have capped advisor fees and administration fees at 0.50% respectively, and it would have required vendors to offer low-cost index funds and low-cost target date funds. Of course, the bad actors in the industry hated it. And of course they flooded the zone with money, lobbyists, distortions, and outright lies.
Senator Villa discusses the legislative process, the pushback from high-cost vendors, lobbyists, and the National Tax-Deferred Savings Association, and how close the bill came to becoming law. She also shares what's next for 403(b) reform in Illinois.
Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®).
Teachers-turned fiduciary advisors Emily Maretsky and Andrew Katz-Moses, CFP® share their journey from the classroom to full-time planners in this live 403bwise Event.
Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®).
Scott refutes National Tax-Deferred Savings Association research claim, among other things, that the multi-vendor environment leads to more enrollment than single vendor.
Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®).
We check in with fiduciary advisor Andrew Katz-Moses CFP® five years after the big move to full time advisor.
Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®).
Well that was quick. As is this pod. Something called — perversely, I might add — the Federation of Americans for Consumer Choice, Inc. (“FACC”) has filed a lawsuit to stop the new Fiduciary Rule even before it goes into effect on September 23, 2024.
Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®).
Does the new Fiduciary Rule have teeth? Does it apply to the 403(b)? We also discuss our May 21 event for those curious about becoming a fiduciary advisor.
Nothing presented or discussed is to be construed as investment or tax advice. This can be secured from a vetted Certified Financial Planner (CFP®).