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Author: MissMemphisBelle Big gold star, 5000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 77548  
Subject: Re: Teachers and other pub emps Date: 5/4/2006 7:02 PM
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I thought this was ironically funny, from the article:

"Teachers are trained as educators, not financial managers," Valdivia said. "What we are concerned about is guided, safe, secure investments."

Steve Schullo, a Los Angeles teacher and longtime critic of 403(b) endorsement deals, said this attitude reflected "an offensive prejudice that teachers are too stupid and too naive to manage their own retirement savings."

Many choose products sold by financial planners because they aren't aware that they cost more, Schullo said.

Uh.... doh!

Troy Dueker, a Plan Member vice president, said the charges were reasonable in light of the service provided.

"We are giving Finance 101 lessons, explaining what a stock is, what a bond is," he said. "We take them through life-cycle planning."

Teacher, teach thyself.

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