Do doctors get retirement funds added to their plan?!?!!??

Question

Like does any higher administration or union or whatever add retirement funds to their retirement plan???

Answer 1

Every retirement plan that is offered with your employment(403b, 401k, etc) has an oversight committee/board. They vote what plan best serves their establishment and work with the outside financial company to decide the best funds to add to the plan. Obviously, depending on what companies they decide to go with will determine what mutual funds are added to your plan. Example...if they went directly to vanguard and asked to be apart of their retirement program, vanguard would be in the plan. If they decided to employ a full service brokerage house, say UBS, then they could offer a full range of different mutual funds from different mutual fund companies on their platform.

There is a limit to how many mutual funds can be in the plan, so you will never see an unlimited amount of choices. Most of the time what happens is the board reviews the current retirement plan and decides to switch different funds, add more funds or go with a different company all together. You will always be notified when any of this happens to your plan, but unless you are on the board, or own the company....you will not have much of a say on what funds are in your plan.

Hope this helped.

Answer 2

Some doctors do and some don't. If they have their own business or contract out their services, they have to provide for retirement themselves.

If they work in a group that provides retirement funds, then they have it there, but the prudent doctors will additionally do their own planning outside of their group's retirement plan.
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