BlackRock only?

Do not confuse BlackRock (fine) with Blackstone (evil).

I would make sure that you aren’t confusing Blackrock with Blackstone before making any revisions. There is a lot of understandable confusion about which company did which objectionable thing.

I would suggest you learn some basics of portfolio construction and make your own portfolio out of the other index funds available. It doesn't have to be complicated and will probably a big improvement from using the target date fund.

Choosing individual mutual funds over the target date fund is inherently "riskier" because as you near retirement, the target date funds will switch some of your portfolio over to "less risky" bonds to help stabalize the balance for retirement.

Look at the fees. I never choose target date funds and never recommend them because of the fees they charge to do this. Over the next 7 years, you are likely better saving 0.5-2% in fees by choosing the lowest fee total market fund you can.

Let's reframe this question out of the "no win" and into the "win-win!" You mention having "quite a bit already invested…" so I bet you are doing great! Whether you leave what is in the target fund there and it automatically lowers risk for you as you approach retirement, or you move money into a lower fee fund that may be less stable over the next 5-10 years, you have the power to choose your comfort level with risk. The level of risk you take in this 457 account may depend on what other cards you have in your hand as well. If this is the vast majority of your retirement fund, perhaps lower risk is better, but if you have other retirement accounts, investment real estate, paid off home and car, and other assets you can rely on, then this decision is not as pivotal and can be riskier if you desire. Although, as another comment made, if you are planning to not touch the money for 7+ years, then the total market is historically not very "risky"

Good luck and God bless!

Because I entered the workforce in my late 40's, I will continue working for another 7 years. I am also a 55 yo; my hourly fee financial advisor had me switch future contributions in my 457 out of the target date fund last month. Even if neither option is great for you, how do you feel about? Many people at my workplace don't care and stay in the target date fund. I look at switching my future contributions as a move toward controlling what I am able and feeling better about the account than if I had left it as is.

I think you’re getting good advice already in this thread. I’d add that you may want to reframe the potential pivot away from Blackrock as a basic change of strategy instead of assuming that the move will introduce higher risk.

It’s only higher risk if you select a riskier allocation than your current holdings. That said, some additional risk may be appropriate since you’re 7 years from retirement.

You’re in the zone where some safer allocation starts to make sense though, and you could simply mirror the risk profile of your current target date fund if you’re feeling comfortable with that.

The suggestion someone else in this thread made that you consider the three fund portfolio approach is a good way to accomplish this, as you can simply set your stock/bond mix to your desired risk level.

If you feel like you need help with the details, I recommend spending a few hundred bucks on Planvision advising service as they will help you make the decisions but won’t take control of your investments or charge usurious AUM fees. The AUM route is a trap that uncertain investors can easily fall prey to.

I think you’re getting good advice already in this thread. I’d add that you may want to reframe the potential pivot away from Blackrock as a basic change of strategy instead of assuming that the move will introduce higher risk.

It’s only higher risk if you select a riskier allocation than your current holdings. That said, some additional risk may be appropriate since you’re 7 years from retirement.

You’re in the zone where some safer allocation starts to make sense though, and you could simply mirror the risk profile of your current target date fund if you’re feeling comfortable with that.

The suggestion someone else in this thread made that you consider the three fund portfolio approach is a good way to accomplish this, as you can simply set your stock/bond mix to your desired risk level.

If you feel like you need help with the details, I recommend spending a few hundred bucks on Planvision advising service as they will help you make the decisions but won’t take control of your investments or charge usurious AUM fees. The AUM route is a trap that uncertain investors can easily fall prey to.

You say you're close to retirement. How close? Rather than making this investment decision in a vacuum, you should take some time to create a more comprehensive plan for what your portfolio needs to look like to support your planned spending in retirement. That way, you can move into that more comprehensive portfolio now instead of changing just one fund.

In terms of what investments to hold, you can do this research yourself using podcasts, reading and online tools then design your own portfolio or you can hire an advice-only certified financial planner to create a plan for you that you'll then manage yourself going forward. A third, more expensive option is to pay for someone to manage your money for you. Let us know which of these paths you plan to take and we can make some recommendations for next steps.

Thank you!

Just don't use target date funds. No matter whose funds they are. Use basic index funds.

I personally find it easier to use the bogleheads three fund portfolio than a target date fund. I am trying to manage the mix of US, ex-US, and bonds across multiple accounts and my spouse's accounts. Using individual index funds and rebalancing once or twice a year is pretty painless. The harder part is keeping track of the ratios across accounts because some of my accounts don't have access to low-fee international index funds or good, low-fee bond funds.

The target date fund obviously automates this process for you through a single fund that's internally rebalances. If you won't remember to rebalance on some regular cadence (annual is sufficient), then you should stick to the target date funds.

If you are able to do the rebalance yourself, I'd probably exchange the TDF for individual index funds, assuming your plan has access to low fee index funds.

I know 457's, especially for schools and non-profits, often have higher fee funds or actively managed funds, so you may be stuck with the TDF.