annuity? I was employed in a school library for 17 yrs.
Total Comments: 4
Posted: Fri May 02, 2008 06:07 pm Post Subject:
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
Posted: Fri May 02, 2008 09:48 pm Post Subject:
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.
InsTeacher 8)
Posted: Fri May 02, 2008 09:52 pm Post Subject:
Thanks Teach! :lol:
Posted: Sun May 04, 2008 03:53 pm Post Subject:
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.
Posted: Fri May 02, 2008 06:07 pm Post Subject:
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
Posted: Fri May 02, 2008 09:48 pm Post Subject:
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.
InsTeacher 8)
Posted: Fri May 02, 2008 09:52 pm Post Subject:
Thanks Teach! :lol:
Posted: Sun May 04, 2008 03:53 pm Post Subject:
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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