We got this question the other day….

Why can’t I move part of my 403b (BlackRock) into an IRA (to have better choices e.g. Vanguard)? My employer now only uses AUL, so if I’m going to make a change, it must be from BlackRock to AUL. This doesn’t seem right!…. I know I sound skeptical.. but these are our retirement accounts, and it feels like options are limited, and everyone wants a piece of one’s humble retirement nest egg!…. Lynn

Problem is, despite all the talk about an ownership society, you really don’t get to make much of a choice. Your employer makes it for you. Yes, you can take the plan with you when you leave. But, in essence, you have to make difficult choices with the limited menu of options offered by your employer. In some cases that’s good; in many cases it’s bad. But we are a long way off from an ownership society.