The retirement system that public school teachers can use to augment their traditional pensions has a baffling array of investment options, high fees and a chronic lack of oversight, the TIAA-CREF Institute says.
By Walter Hamilton, Los Angeles Times
March 2, 2011
With public-employee pensions under attack by budget cutters, teachers may have to rely more on their own savings to pay for retirement.
But a new study indicates that the retirement system used by California public school teachers to supplement their traditional pensions is larded with high fees that eat into employee nest eggs.
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