No. of Recommendations: 0
Greetings, Maudobucks, and welcome. You wrote:

<<My mom's district set up an arrangement where my mom contributes 3.75% of her gross, and the district will match with 3.75% to equal the mandated 7.5%. The district made a arrangement to have the money invested in a traditional annuity through Life Investors Insurance Company of America. The matching contribution is great, but according to the district, my mom has NO choice in deciding where the money is invested, how much or little she contributes. They claim that she may not even elect to stop or increase these contributions!>>

It sounds as if she is in a defined benefit plan to which she makes a contribution and within which she must participate as a condition of employment. Such plans do exist. I don't know for sure, but my guess is such plans are probably not all that uncommon with school employees.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.