TASBO has created a guide for 403(b) providers to share basic information about 403(b) retirement savings providers and investment products that are available to employees of Texas public schools. This voluntary program enhances transparency for educators to make decisions on their investment options.
TASBO has created a guide (tasbo.org/403b) with basic information about 403(b) retirement savings providers and investment products that are available to employees of Texas public schools. This voluntary program enhances transparency for educators to make decisions on their investment options.
This program was inspired when House Bill 2820, passed by the 86th Session of the Texas legislature, removed the Teacher Retirement System (TRS) oversight of eligible qualified 403(b) investment products.
Under Texas law and the provisions of the Vernon Statute, public schools are required to allow employees to :
- Invest with companies licensed by the Texas Department of Insurance;
- Meet minimum capital and surplus requirements; and,
- Have experience providing qualified investment products.
TASBO has partnered with AIG, Equitable, Horace Mann, and TCG Trusted Capital Group, to help develop this 403(b) transparency project. The guide includes listings from providers who voluntarily shared information about their investment products and services. It does not represent a complete list of all providers.
