Good Luck!!!

Same as in Illinois, Kansas, Rhode Island, et al.

Basically, instead of giving money to the government in Social security, you put your money into a state sponsored fund. However, when you retire, it works just like social security. I don’t trust social security to be there when I retire, therefore I have a SEP plan for me and my wife. Your financial adviser is giving good advice to sock money away into a different vehicle then just you teacher’s retirement. Just make sure to get several plans from a few financial planners in order to make a good comparison.

Oh, by the way, if an adviser plans on putting you into anything that has the word “variable” in it, he is just trying to line his pockets. Good luck, be a good teacher, you are with those kids more often then their parents.

You can also sign up for a tax free annuity. After retirement you can pull out funds at a lower tax rate than you would pay while working.