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Conservative Investor

Clarification On Safety Of 457 Investment

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I am in a public 457 deferred account and no one can tell me exactly what the account is invested in. I would normally not be too concerned but the company is Hartford Financial Services and right now is going through a very volatile period.

 

The account I am invested in is called in one place a General (declared rate) account and on another page it is referred to as 100% stable value/money market.

 

My question is if Hartford should fail as AIG did, would I lose my entire investment in this account? I have tried for over a week to get an answer from Hartford and all they do is refer me to the same paragraph that says what I wrote above.

 

Thank you - any input from someone with knowledge of 457 accounts would be appreciated.

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Hi,

Demand that they answer your simple question.

Is the fund part of Hartford or is Hartford the custodian or third party administrator? If Hartford is the TPA which is the usual case, your money is with another company. Which company?

Your questions are reasonable.

Let us know what you find out.

Steve

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