457 in service transfer

[seven-up]

My employer has a 457 plan which I have contributed for the past 6 years. I'm wanting to know if it possible to transfer the money i have contributed to an IRA, so that i would have more investment options. Currently, I am only able to select from about 40 variable annuities. My google-fu was not able to yield a definitive answer. Any one have any info on something like this?

From what I have read, there has to be a separation of service from the employer. Don't really want to go that route...

 

[Cartophilus]

My employer has a 457 plan which I have contributed for the past 6 years. I'm wanting to know if it possible to transfer the money i have contributed to an IRA, so that i would have more investment options. Currently, I am only able to select from about 40 variable annuities. My google-fu was not able to yield a definitive answer. Any one have any info on something like this?

From what I have read, there has to be a separation of service from the employer. Don't really want to go that route...

If your plan is a 457 governmental plan you may be eligible for a rollover. If it is a non-governmental 457b you can only rollover to other 457b plans and not to an IRA without triggering a taxable event. I don't think that you can rollover any 457 plan while still employed where the 457 was established. My counsel would be to talk with the plan administrator about rollover options, but in my opinion don't get your hopes up. Your best hope would be to find a 457 that has Something other than variable annuities as an option. Va's tend to carry some pretty egregious fees.