"The vast majority of 403(b) and 457(b) plans that our nation's state (which includes cities, counties, municipalities, etc.) government employees invest in are high in cost, laden with surrender charges (and long surrender periods) and pay commissions that would likely not be allowed in ERISA plans (state government plans are exempt from ERISA).... However, for all the poorly run plans that exist, there are some very well run plans and they are increasingly setting an example for the others and driving down costs as well increasing transparency. Many of these plans have trustees (fiduciaries) who follow ERISA principles and are members of a growing association that serves government defined contribution plans named NAGDCA, or the National Association of Government Defined Contribution Administrators."  MORE >>