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glenncori
New member
Joined: 02 May 2008
Posts: 1
glenncori's Home Page
1.29 Dollars($)
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 Posted: Fri May 02, 2008 5:01 pm Post subject: Do I need to be a teacher inorder to get an annuity? I was e
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| annuity? I was employed in a school library for 17 yrs. |
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Insurance Maze
Guide
Joined: 16 Oct 2007
Posts: 429
InsuranceMaze's Home Page
96.40 Dollars($)
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Posted: Fri May 02, 2008 6:07 pm Post subject:
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Not really sure what you are asking, but if the question is . . .
"Does a person have to be a teacher to buy an annuity?", the answer is "no".
However, there are particular types of annuites that are only sold to teachers.
Maze
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http://insurancemaze.ampminsure.org
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InsTeacher
Preferred member
Joined: 13 Aug 2007
Posts: 192
InsTeacher's Home Page
77.29 Dollars($)
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Posted: Fri May 02, 2008 9:48 pm Post subject:
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glenncori, if you are referring to what's called a "Section 403(b) Tax-Sheltered Annuity" or "TSA," then yes, you must work for a non-profit employer who files under IRS Section 501 (c)(3). Normally offered as a retirement plan sponsored by an employer, this is a tax-qualified plan available to those employees in which the employer has installed this plan.
If you are referring to a plain-old ordinary non-tax qualified annuity- those can be purchased by anyone, and do not require the non-profit status as mentioned above.
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Insurance Maze
Guide
Joined: 16 Oct 2007
Posts: 429
InsuranceMaze's Home Page
96.40 Dollars($)
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InsInvestigator
Guide
Joined: 13 Oct 2007
Posts: 158
InsInvestigator's Home Page
Location: Central California
55.48 Dollars($)
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Posted: Sun May 04, 2008 3:53 pm Post subject:
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For the past 6 months, I've been the working for a law firm who's representing around 70,000 teachers in CA that have been sold fraudulent 403(b)s. During the course of my investigation, I've disccovered that this problem is huge and teachers all over the country may have also been treated unfairly by an insurance company.
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Please feel free to go to my website at www.markcolbert.com or, if you have a specific question, you can email me directly. I hope I can answer any questions you might have. If not, I can certainly find an answer right away. |
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