This month, Corebridge Financial and Miami-Dade County Public Schools are commemorating one of the earliest implementations of a 403(b) retirement plan in a public school. In October 1964, The Variable Annuity Life Insurance Company (VALIC), a Corebridge Financial company, issued a 403(b) plan to a teacher at Coral Gables Elementary who enrolled at $25 per pay period, helping to pioneer 403(b) employer contracts for educators in the United States.
To help us celebrate this milestone, Frank Buggs, a retired educator from Miami-Dade County Public Schools and one of our longest 403(b) workplace retirement plan participants, shared his thoughts about retirement and his long-lasting relationship with Corebridge. Frank, who opened his Corebridge account fifty-five years ago, has been enjoying retirement for the last twenty-six years as a father, grandfather, and great-grandfather.
Q. At Corebridge, we believe "action is everything" when it comes to making goals and dreams become reality. What does "action is everything" mean to you?
A. Without action, I wouldn’t have anything. With action, I’m having a good retirement.
Q. How has Corebridge helped you prepare for retirement?
A. I’ve been very happy with Corebridge, especially the service I received from their financial professionals. They’ve helped me keep up with my financial situation and met with me annually to review my plan.
Q. How has your Corebridge financial professional helped you in your retirement confidence?
A. When I first started teaching, I lived paycheck to paycheck. The best advice I received from a Corebridge financial professional was to start investing, and they provided guidance and advice.
Q. What advice would you give a new teacher about saving for retirement?
A. Start investing in your 403(b) retirement plan now, so you will have a better financial future.
This interview is published for educational use only, and is not intended to provide financial, legal, fiduciary, accounting, or tax advice, nor is it intended to make any investment or insurance recommendations. Experiences presented may not be representative of the experiences of other individuals and there is no guarantee of similar results or success. Responses have been edited for clarity. Please consult with the appropriate legal, financial, or tax professional regarding your own financial situation and investment needs and objectives.
