St. Vrain Valley School District in Longmont, Colorado decided enough was enough when it came to its 403(b) plan, electing to freeze it: Last November, the District Retirement Committee distributed a survey to all employees regarding its optional retirement plans. The results of that survey indicated that employees desired an improved plan design, better education and communication, and lower fees. In addition, the District received negative feedback from employees regarding some of the existing 403(b) and 457 providers, and there had been no official performance or fee review process in place to address these concerns. Further study revealed large discrepancies among the different providers regarding products offered and fees charged.
St. Vrain 403(b) Example - Freeze It
St. Vrain 403(b) Example - Freeze It
St. Vrain 403(b) Example - Freeze It
St. Vrain Valley School District in Longmont, Colorado decided enough was enough when it came to its 403(b) plan, electing to freeze it: Last November, the District Retirement Committee distributed a survey to all employees regarding its optional retirement plans. The results of that survey indicated that employees desired an improved plan design, better education and communication, and lower fees. In addition, the District received negative feedback from employees regarding some of the existing 403(b) and 457 providers, and there had been no official performance or fee review process in place to address these concerns. Further study revealed large discrepancies among the different providers regarding products offered and fees charged.