I recently spoke to a coworker about my dislike for our company's 457b plan since there is no list of options, only one choice of who to open it with. This is a government company I work for. The 457 company is Nationwide.
The fine print said the fund I wanted had an additional .65% fee added on (total for VFIAX= .70% ER). That was the lowest choice period.
My coworker told me that our job does not necessarily endorse said company, but only allowed them to offer the plan to us because it was convenient. I was then told that I was not limited to Nationwide for my 457, and I am able to go anywhere that offers one, complete their paperwork and salary reduction agreement, and it should be ok.
Is this true? If so, how will I go about this? Can I just call up Fidelity or Vanguard and tell them I want to open a 457b with them?
Thanks for your help.
Submitted June 03, 2017 at 01:18AM by fat-stanley http://ift.tt/2rPhwx9
