If you teach in Nevada, chances are your 403(b) got set up years ago — maybe during a rushed benefits meeting, maybe with whatever vendor happened to have a table in the break room — and it hasn’t been looked at since. Contributions come out of every paycheck, the statements pile up unopened, and the whole thing runs on autopilot.
Autopilot is fine for cruising. It’s not fine for landing. And retirement is a landing.
Why "set it and forget it" gets expensive near retirement
A 403(b) that made sense at 35 often doesn’t make sense at 58. The mix of investments that helped you grow money over decades can leave you exposed right when you can least afford a bad year — the stretch just before and just after your retirement date, when a market drop hits hardest because you’re about to start drawing the money instead of adding to it.
There’s also the plumbing nobody talks about: fees you may not know you’re paying, old vendor contracts with rules written in the fine print, and accounts left behind at previous districts or employers that nobody is watching at all.
What a 403(b) checkup actually looks at
- What you actually own. Many educators can’t name what’s inside their 403(b) — and that’s not a knock on you; these plans are built to be confusing.
- What it costs. Some legacy 403(b) products carry costs that quietly eat into decades of growth.
- How it fits with your pension. Your PERS pension is the foundation. The 403(b)’s job is to fill the gaps — income timing, inflation, healthcare years, the years before Social Security. That job changes as retirement gets close.
- What happens at retirement. How the money comes out matters as much as how it went in. Options, timing, and taxes all come into play.
The good news
Reviewing a 403(b) costs you nothing but an hour, and you don’t have to change anything unless the numbers say you should. The point is simple: you should know what your money is doing before you need it to do the most important job of its life — paying you, every month, for the rest of yours.
Who this is for
Nevada educators — CCSD teachers, administrators, and support professionals — especially those within about ten years of retirement, or anyone with a 403(b) they haven’t reviewed in the last few years.
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This content is for general educational purposes only and is not financial, tax, legal, or investment advice, nor a recommendation to buy or sell any product. Stream Income Group is an insurance and financial services firm. Any guarantees referenced are backed solely by the financial strength and claims-paying ability of the issuing insurance company. Please consult qualified tax and legal professionals regarding your individual situation.