SEC PUBLISHES RESOURCES TO ASSIST PUBLIC SCHOOL TEACHERS
FOR IMMEDIATE RELEASE
Washington, D.C., Oct. 6, 2005 - The Securities and Exchange Commission today launched a "Just for Teachers" section on its website to assist public school teachers in grades K-12 evaluate and select appropriate investments for employer-sponsored 403(b) retirement savings plans and other savings vehicles.
"At the SEC, we are the investor's advocate," said Chairman Christopher Cox, "and every teacher with a retirement plan is an investor. These web tools for teachers are built for busy educators - they're easy to use, and designed with teachers' unique circumstances in mind. America's teachers understandably make educating our kids their top priority, but it's important for them to think about their own financial future, too."
"We've noticed that teachers devote so much of themselves and their resources to their students that they sometimes overlook their own needs, such as planning for a secure retirement," said Susan Wyderko, director of the Office of Investor Education and Assistance. "The SEC's new 'Just for Teachers' website will help teachers make informed decisions about their retirement savings options."
The "Just for Teachers" website explains 403(b) retirement savings plans, which are tax-deferred retirement savings programs available to employees of public schools, employees of certain non-profit entities, and some members of the clergy. Teachers who participate in 403(b) plans typically choose among different types of investments, including fixed annuities, variable annuities, and mutual funds.
The "Just for Teachers" site also provides general information about saving and investing wisely, including the basics of asset allocation, diversification, and rebalancing. The site also includes tips and resources for teaching personal finance in the classroom.
While all of the materials are available online, teachers can also contact the SEC from the "Just for Teachers" website and request a free "teacher care package," consisting of SEC educational brochures on mutual funds, variable annuities, and other investing topics, which will be mailed to the investor.
The "Just for Teachers" website is at www.sec.gov/investor/teachers.shtml.