In language eerily similar to Pennsylvania's Act 5, which prevents school districts from going single vendor, proposed New Jersey legislation would require large school districts to have at least three 403(b) vendors.

We speak with “Izzy” Tannenbaum, partner at Withum, a tax advisory and public accounting firm. Izzy supports the intent of the bill but acknowledges it contains flaws.

Sponsors of Bill A1974

• Raj Mukherji
• Roy Freiman

Resources

• Israel Tannenbaum
• (New Jersey) State Bill Would Require Multiple 403(b) Providers
• Bill A1974
• Hey Pennsylvania K-12 Teachers: The Insurance Industry Just Made Your 403(b) Plans Worse
• Learned by Being Burned
• Meridian Wealth Management
• 403bwise.org