, Columnist
How Retirement Plans Shortchange Public-School Teachers
High fees, complex products and self-serving financial advisers make it hard for them to sock away enough.
More than just teaching.
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It’s no secret that public-school teachers are paid too little, or that the problem won’t be remedied overnight. But there is something the U.S. can do right now to give teachers a more prosperous future, and the cost to taxpayers would be trivial.
I’m referring to teachers’ retirement savings plans, or 403(b)s. Like 401(k)s for private-sector employees, the plans let teachers defer taxes on money they save for retirement. But, the similarity ends there.