Call to Action - Oppose IL Effort to Eliminate 403(b) Market Competition
April 19, 2012
The Illinois legislature has introduced a bill (HB 5495) that would, in effect, require public school districts to eliminate investment options in their 403(b) plans. The bill states that "The intent of this legislation is for the plan sponsor to consolidate to a single provider." The bill has already passed the Illinois House unanimously and is currently being reviewed by the Illinois Senate.
Independent financial advisors provide valuable advice, products and services to Illinois 403(b) plan participants. HB 5495 would deprive these investors of access to your services. As a result, we are calling on our members to take action now.
Please fill out your information, view the letter and send it to your Senator by clicking here.
You can see FSI's opposition by clicking here.