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Products November 29, 2011
Florida IBC and AXA Equitable Team up on Teacher Education
November 29, 2011 (PLANSPONSOR.com) - Florida educators will soon get critical information about how to prepare financially for retirement, thanks to a new $750,000 grant from AXA Equitable Life Insurance Company to the Florida Independent Benefits Council to fund a comprehensive, three-year statewide education initiative specifically for school employees.
Reported by Rebecca Moore
The educational initiative will support school employees in planning their retirements and realizing their financial goals. The IBC, composed of leadership from Florida’s four leading education associations – Florida Association of School Administrators, Florida School Boards Association, Florida Association of District School Superintendents and the Florida Education Association – sponsors The Florida Model Plan, a program designed to streamline 403(b) plan management for the over 350,000 K-12 employees across the state (see TIAA-CREF Selected as Provider to Florida Model 403(b)).
One of the primary goals of the education initiative is to teach employees that full disclosure of terms and fees are vital for 403(b) investment products because voluntary retirement savings are going to become a much more important part of an employee’s successful retirement.
Work is already underway on the research phase of the Financial Educational Initiative, with focus on understanding the beliefs, needs and existing financial education levels of administrators, teachers, staff personnel, and risk managers throughout Florida. Through this initiative public education employees will have access to collateral, webinars, website material and tools, videos and live presentations to help educators make wise financial planning decisions.