According to the New York Times, millions of Americans — public school teachers, clergy members, employees of religious institutions or nonprofits, and some charities — are not offered 401(k)’s; instead they typically must rely on what are known as 403(b) plans, many of which are more lightly regulated.

Questions:
1. Briefly summarize why public school teachers, clergy members, employees of religious institutions or nonprofits are losing so much of their nest eggs for retirement.
2. How much of the $879 billion in total 403(b) assets are not subject to federal retirement plan regulations?
3. What was the highest management percentage mentioned in the article? How does this compare with an average 401K fee? Discuss,
4. What was the most interesting issue raised in the article?

Source:
Bernard, T. (2016). Think Your Retirement Plan Is Bad? Talk to a Teacher The New York Times, Oct. 21 (Retrievable online at http://www.nytimes.com/2016/10/23/your-money/403-b-retirement-plans-fees-teachers.html)