Smart Retirement Planning Tips for Teachers This Summer: Make the Most of Your 403(b), Pension, and Fiduciary Advice

If you're a teacher enjoying your well-earned summer break, now may be the perfect time to give your retirement plan a closer look. Retirement planning for teachers involves unique considerations, and the quiet months of summer are ideal for reviewing your progress, understanding your options, and setting new goals. Whether you're early in your career or counting down the final semesters, a few small changes now could make a massive difference when you retire.

Review What You’re Working With

Start by reviewing what you already have in place: your teacher pension, any 403(b) or 457(b) plans, and additional savings. But don’t assume everything is working in your favor—especially when it comes to products marketed to educators. Unfortunately, many teachers are targeted by salespeople pushing high-fee annuities through their workplace plans. These aren’t always presented clearly, and they’re often not in your best interest. Always ask whether the advisor you're speaking with is a fiduciary financial advisor—

legally required to act in your best interest—not a salesperson tied to commissions.

Also, be aware of terminology, as explained in the image below:

A Tax-Sheltered Annuity (TSA) and a 403(b)-retirement plan is not always the same, even though the terms are often used interchangeably. Many teachers mistakenly assume their TSA is a regular investment account, when in fact it may be a costly annuity product with limited liquidity and hidden fees.

Understand the Fine Print on Your Accounts

One example of a hidden surprise: if you have a TIAA Traditional account, did you know it can take 9 years and 1 month to fully move those funds into your control? This kind of delay can seriously limit your flexibility in retirement. Teachers deserve to retire with freedom—not frustrating restrictions.

Don’t let long surrender periods, vague contract language, or aggressive sales tactics catch you off guard. Reviewing your account statements now and getting a second opinion from a fiduciary financial planner, like you will find at Bradford Financial Advisors, can help clarify your options and avoid costly surprises later on.

Know Your Pension and Supplemental Options

Many teachers rely heavily on their pensions, but few pensions are fully sufficient on their own. Understanding how your state’s retirement system works—including your eligibility age, benefit calculation, and cost-of-living adjustments—can help you identify gaps. Supplementing your pension with a Roth IRA or increasing contributions to your 403(b) plan could help close those gaps. If you're unsure where to begin, Bryan Bradford or Cathryn Porter, both financial advisors with experience in financial planning, can help you navigate the options.

Use Summer to Take Action—Not Just Reflect

Summer is a rare opportunity to pause and plan. Take advantage of the slower pace to schedule a mid-year financial check-in. Reassess your goals, increase your contributions if possible, and be sure your retirement strategy matches your long-term vision. Even a modest adjustment to your retirement savings rate today could have a meaningful impact on your future lifestyle.

If your district offers matching contributions, take full advantage of them. And if you're unsure about your current strategy or provider, ask questions now—while you have time to make thoughtful decisions.

A Stronger Retirement Starts with the Right Advice

The road to retirement is filled with choices—some better than others. By taking time this summer to review your plan, understand your options, and work with a fiduciary financial advisor, you can avoid costly missteps and feel more confident about your future. Small steps today really can lead to massive changes tomorrow. If you’re ready to review your current retirement accounts or need help cutting through the jargon, contact Bradford Financial Advisors—we’re here to help.