Lack of Investment Choices

[joel]

As a teacher for the NYC Board of Education I contribute to the TSA Program offered by the Teachers' Retirement System of the City of New York. The TRS IS THE SOLE 403(b)CARRIER FOR THE CITY'S TEACHERS. The Union wants it this way because it controls 3 of the 7 votes on the TEACHERS' RETIREMENT BOARD.The investment choices are: I. An 8.25% guaranteed return. II. A Variable A Fund for investment in a broad range of common stock. and III. A Variable B Fund for investment in stocks and bonds. Investment elections are allowed only once per year. Exchanges can only be made in 1/12 installments over a year. Will a lawsuit that asks for more investment choices and improvement in the exchange policy succeed?

[This message has been edited by joel (edited 12-10-98).]