State of Illinois 457 (Deferred Comp) Changes
Information has been given to participants in the Illinois 457 plan (I started using it in 2006, I think) about upcoming changes.
They have hired investment advisors to make adjustments to the offerings. I've used, for nearly all the time I've been enrolled, three investments: Invesco Stable Return, Columbia Acorn Z (ACRNX), and Vanguard Total US Bond Index Institutional Plus (VBMPX).
The custodian for participants' assets is T. Rowe Price.
Two of the changes affect me: all ACRNX balances will be transferred to a new plan offering, Franklin Small-Cap Growth R (FSSRX), and a change in share class to a higher-expense Vanguard equivalent (VBTIX, not Institutional Plus, but still US Total US Bond Index Institutional).
Another change for new participants is a default direction of contributions to a target date retirement fund... run by T. Rowe Price.
I'm not planning on making any changes, although I have been slowly transferring money from ACRNX into the stable value fund for a little while now. I had never heard of that Franklin fund, but it's now on my "watchlist".
I think this is an example of a general trend for employee retirement plans.