Can My employer require me to use only the 403b company they have chosen? Shouldn’t I be able to choose who I want to invest with?
- 4 weeks ago
No you have to invest in the companies they offer
- curtisports2Lv 76 months ago
Nope. Their plan, their rules. You are free to do additional outside investing with whoever you want.
- RICKLv 76 months ago
Nope you don't have a choice
Some companies give you a range of choices, even then the choices are usually different funds from the same company
Others say here take it or leave it
Both are perfectly legal
- JudyLv 76 months ago
No, doesn't work that way.Each company sets up their 401k or 403b plan with a certain company as custodian, and if you want to participate in it, you go with that company. You can set up and IRA instead with any company that offers one, but would not be in the 403b so would not get any employer match.
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- A HunchLv 76 months ago
It you want to invest in a 401K, a 403B, a 457 plan or any other employer sponsored retirement plan, it will ALWAYS be the employer's choice of retirement company and retirement funds available.
- This is how employer sponsored retirement plans work.
When you leave you can roll-over the money to any IRA you want.
Your options are to use their option or put the money somewhere else where you won't get a company match (if available) and you will likely have less benefits.
- exactdukeLv 76 months ago
Shouldn’t I be able to choose who I want to invest with?
No, that's not the way it works. They choose the company. If you don't want to use their company, then you invest someplace else. And forgo the company match.
- MichaelLv 76 months ago
If you wish to participate in your employers 403b plan, yes.
You are not required to participate.
- Anonymous6 months ago
You have 100% control over where you invest your money. If you want to invest somewhere other than your employer's 403b plan, you are free to do that. If you want to participate in your employer's 403b plan, you are going to have to agree to the terms of the plan.
All choice. No force.