Learned by Being Burned: Teachers and the K-12 403(b). The short series that explores the dysfunctional world of supplemental retirement plans, the maddening industry behind them, and the growing movement to fix what is broken. 

Teachers describe how they were sold high-cost 403(b) investments. Sales agents detail their tactics.

Teachers discover the 403(b) products they have been sold are expensive resulting in hundreds of thousands of dollars in lost savings.

Teachers learn that breaking up with their financial company is hard to do. They also discover that they can count on little help from their employer, their unions, and the federal government.

National grassroots advocacy movement striving to reform the 403(b) faces obstacles from school districts, unions and the insurance industry. 

In the final episode of the series, we share 403(b) advocacy success stories. We also learn how one district moved from 14 vendors to one low-cost option. Finally, we discuss what can be done to continue improving the quality of K-12 403(b) plans, and what role unions, school districts and the government should play in the fight to ensure that teachers and school employees are offered the best possible retirement options.

Teacher Barb Besal discusses narrating Learned by Being Burned: Teachers and the K-12 403(b). Veteran journalist Steve Buel shares how he researched, reported and wrote the series.

• Barb Besal Pod Teach and Retire Rich Interview from November 2020

The fiduciary advice model couldn't be more different than how most K-12 403(b) products are sold. Fiduciary advisors discuss how they work in the best interest of their clients.  

• Resource for Finding and Working with the Right Kind of Financial Advisor
• Tony & Dina Isola
• Delia Fernandez