Despite the high cost of many 403(b) accounts, they are likely to play an increasingly important role paying for educators’ retirement. The law outlines minimum guidelines and protections for workers and requires employers or plan overseers to act in the best interests of participants. For instance, employers offering 403(b) plans were required to create a document detailing how the plan would be governed. One of Ms. Jusinski’s colleagues, Karen S., is a 62-year-old widow nearing retirement who agreed to discuss her situation if her last name was not used to protect her family’s privacy. Photo(Mr. Dauenhauer, who reviewed both her account and Ms. Jusinski’s, had no business relationship with the plans the teachers choose from.)

Source: New York Times October 21, 2016 20:23 UTC