SMART Plan Appointments: Tuesday, May 31 from 1:30-5:30 PM
The SMART Plan representative, Lisa Cardinal, will be scheduling appointments at the BTU Hall on Tuesday, May 31 from 1:30-5:30 in Room C. All are welcome to make an appointment whether you are already participating in the SMART Plan or not. To make an appointment, please email firstname.lastname@example.org and reference the BTU location and whether you are already participating in the Plan. Meetings are by appointment only.
The SMART PLAN is a Good Option. Understand Differences with Other Plans:
The BTU is not in the business of giving financial advice but we do want our members to know of the variety of, and the differences, between the various tax-sheltering plans offered through the city. There are some major differences between the MassSMART plan offered through the state/city and the individual 403b plans sold primarily by insurance salespeople. Financial salespeople are not allowed, under an agreement we have with the city, to walk into our schools and visit our classrooms or any other common areas in the building during school hours.
We reached an agreement on this issue a few years ago as our members generally found these salespeople to be disruptive influences who interfered with our teaching and learning.
No 403b company has any special license sell a product, nor does any company have any special approval from the city. Before signing on the dotted line, you are strongly advised to seek independent financial advice. Most — not all — 403b providers charge a yearly fee of 1.2% to 1.5% off the top (That helps pay the salesman’s commission!) on all of your assets (contributions and growth) should you invest with them. These yearly fees take a huge bite out of your savings and growth. Please email us with questions.