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Apr 26, 2022 by |

Teacher Annuities


Many California teachers invest in annuities to supplement their retirement income. Insurance agents often attempt to sell teachers annuities because insurance laws in California allow agents to solicit payroll deferrals directly from individual teachers. These payroll deferral arrangements are commonly called “403(b) plans.”

Agents tend to promote annuities over other types of retirement investments because annuities often yield high sales commissions for the agents. But an annuity may not be the best choice for the teacher. In fact, a teacher’s investment return, net of fees and other charges, may be much lower in an annuity product than in other investment choices available to teachers. That means less money for retirement due to the choice of an annuity.

Insurance agents may also target teachers with annuities when teachers start their retirement, persuading teachers to use their retirement savings to purchase a lump sum annuity. The annuity is set up to pay the teacher in retirement, but hidden fees and other charges may under certain types of deferred annuity contracts severely decrease the amount of income that the teacher receives.

We can review any annuity sold to California teachers. If you signed up for an annuity as a public school teacher in California, contact us for a free consultation.  Our toll-free number is 1-888-50EVANS (888-503-8267).

Below is a list of insurance carriers that offer certain types of annuities to Californians, including teachers.  We are not suggesting that any of these annuity carriers have done anything wrong.  We are merely providing the list of carriers and offered products as a reference to our readers.

Life Insurance Company of the Southwest (part of National Life Group)

FIT Certain Income

FIT Rewards Growth

FIT Secure Growth

FIT Select Income




Midland National Life Insurance Company

MNL Endeavor

MNL IndexBuilder

MNL RetireVantage

MNL Select


AIG Retirement Services

Fixed-Interest Option

Long-Term Fixed Account

Premiere Flexible Premium Fixed

VALIC Assured Choice


V-Plan Fixed


American Fidelity Assurance Company


Before-Tax Flexible Premium with High  Interest Option Rider


Americo Financial Life and Annuity Insurance Company/Great Southern Life Insurance Company

Future Provider

Platinum Secure

Ultimate One Index


Aspire (Advisor Trust)

Guaranteed Fixed Interest Fund – Advisor Trust


Athene Annuity and Life Company

Aviva Elite Index

Aviva Flex

Aviva Integrity Index

Aviva Progressive Index

Strategy Advantage


Brighthouse Financial



Empower Retirement

Guaranteed Interest Fund


Great American Insurance Group (Annuity Investors Life Insurance Company)





The Commodore Distinction


Horace Mann Life Insurance Company

Capital Bonus

Capital Security


Expanding Horizon

Group Fixed Annuity

Personal Retirement Planner Fixed Indexed Annuity


Industrial-Alliance Pacific Life Ins Co

Charter Advantage

Freedom Flex



Select Plus


IPX Retirement

Standard Guaranteed Fixed Interest Fund

TPX (Teacher’s Pension Xchange)


Jackson National Life Ins. Co.

Jackson Ascender Plus Select

Modern Woodmen of America

Flexible Premium

National Planning Corporation

Elite Choice Retirement Solutions: Fixed Account

Nationwide Life Insurance Company

Best of America ® Retirement Advisor Fixed Contract


New York Life Ins. & Annuity Corp.

New York Life Flexible Premium Fixed

New York Life Secure Term Choice Fixed


North American Company for Life and Health

NA Performance Choice

NAC RetireChoice

North American Charter Plus


Pacific Life Insurance Company

Pacific Explorer

Pacific Frontier


PlanMember Services Corp

Annuity Investors Life GreatFlex

Symetra Daily Value Fixed Account

The Standard Stable Asset Fund


Putnam Investments

Empower Retirement – Guaranteed Interest Fund


Security Benefit

Security Benefit Foundations

Security Benefit Total Interest


Thrivent Financial

Thrivent Financial Flexible Premium Deferred – Security Plus


Transamerica Life Insurance Company

Guaranteed Pooled Fund

TransMarkr 100


USAA Life Insurance Company

Flexible Retirement Annuity


Voya – ReliaStar Life Insurance Company


Voya Retirement Index Select


Western National Life Insurance Company



Vision Flex


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