Do you mean this deferred comp plan
According to the 2004 Mercer Management Review
, the expenses on the four funds [large cap stock, small cap stock, bond, MM] was around 0.02%. That is extremely low. See page 54.
Here is the Q&A
for the PRU Plan. It has a link to the new 457 website
. Click on "learn more" for the plan info.
Here are the returns and expenses
for the old and new funds. Note that the old funds charge way more than the current 0.08% of the old funds, plus all of them have additional charges [like 12b-1 fees, separate account charges, etc.] tacked onto the underlying fund expenses. This is where Prudential makes their money!! See the pages of footnotes at the bottom [not a good sign
You can see the breakdowns of a lot the expenses in the Investment Profiles
. You can see the breakdowns under the Performance section of each fund.
Personally, I don't think I'd move the money at all. And I'd seriously consider only investing in a couple of those funds - like the stable value fund [which you currently don't have in the NJ Def comp plan], Vanguard's Institutional Index [because of the low expense ratio], and the Wellesley income fund [because of the low expense ratio]. The stable value fund and the Wellesley income fund are very conservative and fairly conservative respectively.
As for forgoing the new def comp plan altogether, remember that after you leave service you can roll the def comp plan over into an IRA [at Vanguard for example], and avoid all those unecessary extra fees PRU is adding. Since NJ doesn't contribute to the def comp plan, you can max out a Roth IRA first, if you're under the income requirements, and then max out the def comp plan after. See Morningstar's IRA Calculator
to see if you're eligible. Also remember the IRA catchup contributions for those over 50.