Spring Savings: Why Employees Need to Stash Cash for Retirement

Spring has sprung! Now is a great time to sit down with your public school employees to review if they are on track to build a retirement nest egg that is sturdy enough to withstand the future. Click here for resources from The Model Plan provider companies to help facilitate this discussion. 

Selection Criteria

The supplementary retirement options available through the Model Plan are vetted according to stringent criteria to verify that the authorized providers are offering fair and competitive rates, disclosing all fees and costs, and providing access to high-quality products and services.

Investment companies and their products are scrutinized for acceptance into the Model Plan according to seven criteria:

  • Expense charges
  • Investment options
  • Participant services
  • Company experience
  • Conversion and implementation
  • Administrative services
  • Account administration services

Additionally, all Model Plan companies are required to provide full fee disclosure for all approved products and disclosure of any pending state or federal investigations or pending legal actions. The Model Plan companies are also prohibited from offering unapproved products for Florida’s 403(b) plans.