{ "media_type": "text", "post_content": "I have a village with 3 employees in a 457 plan. They want me to take over plan. Assets are under $200k. Who would take that?", "post_id": "5db2d3f25b58c500281c822c", "reply_count": 11, "vote_count": 2, "bowl_id": "59d8e13f4d57b200118168ef", "bowl_name": "Retirement Plan Advisors", "feed_type": "bowl" }

I have a village with 3 employees in a 457 plan. They want me to take over plan. Assets are under $200k. Who would take that?

likehelpful
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Me!!

I guess my question is what carrier would you use? John Hancock? One America? Voya?

Transamerica or Nationwide

So it’s an existing plan, they want to make you the broker of record, and you’re debating if you should? Why wouldn’t you if it won’t take much of your time?

Take it. Duh. Ungrateful snob.

The question is not should he/she help the client.

The question is what provider can help him/her help the client as not all providers are willing or have the ability.

Ah.. I originally read it wrong. Wholesaler is more astute than me

Of course I want to help. I’m just trying to figure out how. I spoke to One America but they say the plan is too small. It’s currently with MetLife, but I feel like they want to move away from it. It’s currently annuity based with ML.

I’ve never managed a 457. Is it very different than managing a 401k or 403b? Does the fact that it’s a municipality complicate anything?

Depends, do you work with a TPA? Municipalities will likely want a go between and you probably don't want the administrative headaches. Still I'd go for it just as an opportunity to get in front of the employees.

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I would, easy plan.

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