Your Retirement


With legislative changes to state pension plans, it's more important than ever for educators to supplement their pensions with individual retirement savings. But investing can be confusing, and it's not always easy to know if you are getting a good deal.

 

That's where the Model Plan comes in. Florida's leading education organizations negotiated the best possible deal in supplemental retirement plans for Florida's educators. These plans provide a range of choices, from lower risk to higher risk, and from limited advisor involvement to more intensive, personalized guidance. What all these plans have in common is a commitment to maximize the value to educators. These products and companies have been vetted and are continually monitored to ensure that they maintain the highest standards and values.

 

Among the choices are:

 

Annuities. An annuity is a financial product designed to accept and grow funds from an individual and then pay out a stream of payments at a later point in time. Annuities are primarily used as a means of securing a steady cash flow for individuals during their retirement years.

 

Multi-product custodial accounts. A custodial account is a retirement account managed for eligible employees by a custodian. These accounts are limited to mutual funds and other similar products offered by regulated investment companies.

 

Mutual funds. A mutual fund is made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets. Mutual funds are operated by money mangers, who invest the fund's capital and attempt to produce capital gains and income for the fund's investors. A mutual fund's portfolio is structured and maintained to match the investment objectives stated in its prospectus.