05 May 2008

"Selection Day" for Teacher Pension Transfers

As The Associated Press reports, Monday marks the day for Teachers' Defined Contribution plan enrollees to hand in the paperwork necessary to allow them to transfer into a different retirement program.

"Officials expect heavy turnout for 'Selection Day.,'" AP reports. "Supporters certainly hope that's the case: just 2,251 (TDC) participants had requested transfers as of Friday, according the latest figure posted by the state's Consolidated Public Retirement Board."

"Transfers will occur only if at least 65 percent, or 12,343 enrollees, make that choice," the article said. "Those who don't would still keep their individual TDC accounts."

AP also details some of the hurdles facing the transfer process, including a tight time window, while also hearing from TDC enrollees who want to keep their individual investment accounts.

also reports on "Selection Day."

1 comment:

clear eyes said...

I wonder how my tax money did. I guess I'll need to wait for mail ballots to arrive, but I remain hopeful that my tax money will not be used to reward anyone's poor choice in a 401k plan.