3 Ways Your 403(b) Costs You Big
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403(b) Plans
A 403(b) Plan is a type of retirement plan for non-profit organizations.
What is a 403(b) Plan?
A 403(b) Plan is a type of retirement plan for the employees of certain non-profit organizations like schools, hospitals, charities, and churches.
How it Works
Similar to a 401(k) plan, a 403(b) plan allows employees to save a percentage of their salary, tax-deferred, and invest that money for retirement.
How a 403(b) is Different
A 403(b) is different than a 401(k) in some ways, including investment options and some administration processes.
How Fisher Can Help
Fisher is one of America’s top advisory firms with deep experience helping nonprofits navigate evaluating and setting up a 403(b) tailored to their objectives.
MUST-SEE 2-MINUTE VIDEO
Is Your 403(b) Costing Your Employees Big?
Watch this short video from a non-profit plan retirement specialist to learn more about the difference between non-annuity and annuity 403(b) plans.
| Visual | Audio |
|---|---|
| Upbeat music | Is Your 403(b) Costing Your Employees Big? Fisher Investments® 401(k) Solutions |
| The volume of the music is reduced. Male Voice: My name is David Bui, I am a Senior Business Development Executive at Fisher Investments, which means I spend a lot of time working with 403(b) plans. | A man dressed in a navy blazer speaks to the camera. A flyout in the lower left corner identifies him as David Bui, Senior Business Development Executive |
| One of the biggest pain points we come across with 403(b) plans is that many of them are on an annuity platform that costs the employees big time. An annuity platform means the 403(b) plan is provided by an insurance carrier, and is invested in annuity products. | The flyout disappears. The camera remains focused on David as he speaks, gesturing occasionally. |
| This can be problematic for employees for three reasons: Investments, Fees, Service. | A green flyout appears from the lower left with the following text: “Investments, Fees, and Service” |
| The flyout remains on-screen for a few moments before sliding back out. | |
| First, the investments on an annuity platform tend to be insurance-based. This translates to commissions for the advisor, higher fees, and often, lower overall performance. | A green flyout appears from the lower left with the following text: “1. Investments” The flyout remains on-screen for a few moments before sliding back out. |
| Next, the fees tend to be higher on an annuity platform because of the commission and insurance. The fees can also be more difficult to calculate because of the confusing commissions. | A green flyout appears from the lower left with the following text: “2. Fees” The flyout remains on-screen for a few moments before sliding back out. |
| Lastly, service & support on an annuity platform tend to be lower. This is due to two reasons: The first: Annuity advisors don’t typically act as a fiduciary. This means they aren’t required to act in your best interest. The second: Annuity advisors rarely provide any support or education to the participants in the 403(b) plan. | A green flyout appears from the lower left with the following text: “3. Service and Support” The flyout remains on-screen for a few moments before sliding back out. |
| More than half of all 403(b) plans are on an annuity platform today. The good news is it’s pretty easy to fix! A specialized advisor–like Fisher Investments–can provide a non-annuity platform for your 403(b) plan. This means high quality investments, reasonable & transparent fees, and robust participant support. This can help set your employees up for the retirement they deserve. | The camera remains focused on David as he continues to speak, gesturing occasionally. |
| The volume of the upbeat music increases. | White slides over the screen covering it. Fisher Investment 401(k) Solutions logo fades on to the screen. |
| The music continues to play. | Fisher Investments 401(k) Solutions. © 2022 Fisher Investments. Investing in securities involves the risk of loss. Intended for use by employers considering or sponsoring retirement plans; not for personal use by plan participants. |
| The music fades out. | The screen fades to black. |
Compare 403(b) Solutions
There are two main types of 403(b) solutions: annuity based or non-annuity based. Unfortunately, more than half of all 403(b) plans are on an annuity platform, which is an outdated system that could be charging your employees higher fees.
Plan Participant Case Study
See how an employee can benefit when an employer moves from an annuity based to a non-annuity based 403(b) solution.
DOWNLOADABLE GUIDE
3 Ways Your 403(b) Costs You Big
Download our complimentary guide to learn how your 403(b) could be costing employees higher fees.
Contact Us
One of our 401(k) business specialists would love to talk to you about your company’s retirement plan needs.
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