I work for a governmental body (obviously, I have a 457b) and received a letter in the mail tonight from the investment board that oversees it. (read; accepts kickbacks and bribes to direct our money to specific funds.... They recently 'reorganized' certain investment options into trusts to offer us lower fees; translation, someones brother is now collecting $$$$ as a result in fees, just lower fees)
The $$$ is held by the investment company T. Rowe Price. Our investment choices are HORRIBLE through this plan.
The letter states (paraphrasing) that too much of the money invested in the 457b funds (BY US AS EMPLOYEES!!!) is allocated into small cap funds and they are going to reallocate our money for us based on what they want us invested in, the T. Rowe Price Target Date funds.
If we don't agree with this we are required 'affirmatively advise' T. Rowe Price as to are chosen investment strategy (funds) before 4/24/15 or they will proceed with reallocating OUR MONEY in OUR ACCOUNTS.
Sorry, rant over, continue on.
The $$$ is held by the investment company T. Rowe Price. Our investment choices are HORRIBLE through this plan.
The letter states (paraphrasing) that too much of the money invested in the 457b funds (BY US AS EMPLOYEES!!!) is allocated into small cap funds and they are going to reallocate our money for us based on what they want us invested in, the T. Rowe Price Target Date funds.
If we don't agree with this we are required 'affirmatively advise' T. Rowe Price as to are chosen investment strategy (funds) before 4/24/15 or they will proceed with reallocating OUR MONEY in OUR ACCOUNTS.
Sorry, rant over, continue on.