Bill, I have a 403b which allows Fidelity, Vanguard, TIAA-CREF, and a couple other choices. Within each choice, my employer plan allows a fixed set of funds. For Fidelity, I think there are 80 choices. I self-direct within those choices, meaning I choose which fund or funds my contributions go into, and I also can shift money between funds. I just log on via the Internet and do that stuff, independently of my employer.
There are firms I've heard about which allow complete self-direction, akin to an IRA in a brokerage account, which is about the only way my employer could make my plan better (for me -- that kind of flexibility would be worse for many). As it is, I have money in TIAA-CREF, Vanguard, and Fidelity for my 403b. My plan has never made a mention of using an account at a broker such as TD Waterhouse. But I keep meaning to write them and ask for a change in the plan which would permit such a choice. |
