Experienced Agents:
403(b)/457(b) Certified Training Program
Today, even veteran agents are finding it more and more difficult to gain access in school districts. School districts and employers want trusted agents who will increase the number of educators and employees taking part in a 403(b) or 457(b) plan. They are now empowered in most states to remove vendors and agents who are not increasing participation or who may be violating their rules. Our Certified program helps producers avoid unseen land mines and helps them thrive in today's new marketplace.
Benefits of Certification
As a "Certified" producer, you will be on the company's official approved agent list. This list will be shared with school districts. You will also receive:
- Support from our External 403(b) Team in targeted districts.
- Access to benefit fairs, in-services, and special school functions.
- Credibility with clients and with school districts as an approved, Certified agent.
Teacher Retirement System
First and foremost, the retirement foundation for educators is their state Teacher Retirement System. The Teacher Retirement System's primary responsibility is to provide retirement benefits and services to teachers in public schools and community colleges. It is a defined benefit pension plan. Unfortunately, research supports that most employees in school systems do not understand the specific benefits, formulas, and options of their Teacher Retirement System.
Today, most retirees find that income from their employer retirement plans and Social Security (if available) are not enough to maintain the standard of living they would like to enjoy during retirement. To be truly comfortable, most people need personal savings as well.
Most teacher and government state retirement plans will provide only 50 percent to 60 percent of an employee's final salary for a retirement benefit.
Here is an example of an educator retiring after 30 years in the State of Texas:
| Average of Highest Three Years of Salary |
Years of Service |
Multiplier (2.3%) |
Yearly Annuity |
|||
| $50,000 | x | 30 years | x | 0.023 | = | $34,500 |
One excellent option is a 403(b) or a 457(b) plan.
Plan Sponsors and Third Party Administrators
Through National Life Group/Life Insurance Company of the Southwest (LSW) we work with more than 7,000 school districts and plan sponsors throughout the United States. We also provide 403(b) and 457(b) plans to many governmental employers and 501(c)(3) organizations. We help plan sponsors and TPAs comply with the 403(b) regulations and have the operational systems to serve the largest school districts in the country and some of the smallest.
