What is a key difference between 401(k) and 403(b) plans?
Teachers Are Getting Schooled When It Comes to 403(b) Plans: Ritholtz's Isolas

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Business, Life Skills
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
403(b) plans have lower fees than 401(k) plans.
401(k) plans require employers to vet investments, unlike 403(b) plans.
403(b) plans are only available to government employees.
401(k) plans offer more investment options than 403(b) plans.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why are variable annuities considered problematic for teachers?
They are complex and come with high fees.
They are the cheapest way to own a mutual fund.
They offer guaranteed returns.
They are only available to teachers with over 10 years of experience.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one suggested solution to improve 403(b) plans?
Eliminate 403(b) plans entirely.
Increase the number of vendors.
Educate teachers about their investment options.
Reduce the number of investment choices.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What legislative change is suggested to protect teachers' retirement savings?
Require teachers to invest in variable annuities.
Limit the number of vendors offering 403(b) plans.
Increase the fees on 403(b) plans.
Implement a fiduciary rule for retirement accounts.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was the outcome for the teacher who compared her 403(b) plan with her husband's?
She had accumulated more wealth than her husband.
She decided to stop contributing to her 403(b) plan.
She had accumulated less wealth due to higher fees.
Both had accumulated the same amount of wealth.
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