Saturday, January 31, 2004

403(b) Market Could Double In The Blink Of An Eye

A bill has been introduced in the House of Reps that would extend the 403(b) to state & local government employees. This would almost immediately double the number of possible 403(b) participants (and the number of people who could potentially buy my book!!). As you might expect I support this bill and hope it passes - if it does it could create an opportunity for major changes throughout the 403(b) industry and an all out war among the debating theories of how 403(b) plans should be distributed. I don't expect this bill to get much attention any time soon as it didn't come from the people who normally are behind this type of stuff, however if enough people show their support we just might see some action on this. I am doubtful it will be passed under the current budget constraints and it really isn't needed - after all, how many government employees can afford to contribute to two retirement plans (403(b) & 457(b)) in the same year? It's a bit overkill, but I support it anyway - even if just for selfish reasons!

Read my website and 403bwise.com for continued coverage of the extended 403(b) and LSA's & RSA's.

Till next time......ScottyD

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