PFRDA

Can I choose my own 457 plan?

I work for a County Government in New Jersey. I have a pension (police & fire retirement system) that I've been paying into for the last 12 years. Just for added security, I also started a 457 (deffered comp) plan. I was told that I only had 2 choices/fund manager/company that were avaible to me - 1. Valic Retirement Services or 2. Great West Retirement Services. That just doesn't sound right, shouldn't I be able to choose any service that I want? Or does it have to be the two services that the county government designates? I guess what I am getting at is, can I do my own research and go with a company that I think fits my needs most? with less fees? higher returns? etc...?

Public Comments

1. You have to use the one your employer provides. You can set up an IRA any place you want to though.