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Unions' Deals With Brokers Raise Issues

Jacobson, Linda

Education week, 2006-06-07, Vol.25 (39), p.1

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Title:
Unions' Deals With Brokers Raise Issues
Author: Jacobson, Linda
Subjects: Brokers ; Teachers ; Annuities ; Attorneys general ; Investment income ; Education ; Mutual funds ; Labor unions ; Employees ; Taxation ; Pension plans ; Investment companies ; School boards ; Commissions
Is Part Of: Education week, 2006-06-07, Vol.25 (39), p.1
Description: The product such brokers are generally selling is known as the 403(b), from the section of the federal tax code that allows educational institutions and other nonprofit organizations to provide tax-deferred retirement plans. John Kevin, an investment specialist for the 139,000-student Montgomery County, Md., school system, has already trimmed the list of vendors approved by the district, and told Teacher Magazine, Education Week's sister publication, that he would like to cut the current list of 14 down to six-three low-cost options and three with higher-cost full representation. Jack Silver, a 1st grade teacher in the Chicago public schools and a former trustee for the district's pension plan, said he thinks unions or districts should hold more informational workshops for teachers on topics such as annuities and other investment products.
Publisher: Bethesda: Editorial Projects in Education, Inc
Language: English
Identifier: ISSN: 0277-4232
EISSN: 1944-8333

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