Public-sector HR and benefits leaders know that a great 457(b) program does more than offer tax-deferred savings—it supports retention, simplifies compliance, and gives employees confidence about retirement. In 2026, the leading 457 providers pair modern recordkeeping platforms with participant advice, payroll integrations, and airtight fiduciary support. Below, we spotlight 10 standout providers many cities, counties, school districts, universities, utilities, and nonprofits rely on. Each profile focuses on what matters to HR/benefits teams: plan design flexibility, participant experience, investment options and fees, integrations, and service model.
How We Evaluated Providers
We assessed providers across criteria that directly impact plan outcomes and day-to-day administration:
- Participant experience: enrollment workflows, Roth 457 options, catch-up elections, managed accounts, advice, financial wellness content, multilingual support, and omni-channel service (phone, chat, mobile app).
- Plan design & compliance: 457(b) and 457(f) capabilities, special catch-up rules, distribution management for separated employees, loan/hardship processes, and strong cybersecurity and data governance.
- Investments & fees: breadth of index/active funds, stable value or guaranteed options, target-date series quality, fee transparency, and share-class optimization.
- Admin & payroll: integrations with common municipal and education payroll/HCM systems (e.g., ADP, UKG, Oracle, Workday, Tyler Technologies/Munis, PowerSchool), contribution monitoring, and automated eligibility/catch-up tracking.
- Service & governance: dedicated relationship teams, onsite/virtual education, plan health analytics, benchmarking, and committee support with clear, usable reporting.
1) Empower
Empower remains a powerhouse for public-sector retirement, with a recordkeeping platform built to handle complex 457(b) designs and multi-agency implementations. HR teams appreciate the admin dashboard that surfaces contribution errors, catch-up eligibility, and deferral changes in real time, plus automated payroll file validations that reduce back-and-forth with finance. The participant site is fast, clear, and mobile-first, with goal-based planning, easy deferral sliders, and strong Roth support. Empower’s managed accounts, target-date options, and low-cost index lineup make it straightforward to deliver value while controlling plan fees.
Service depth is a major differentiator. Empower fields experienced government-plan consultants who help committees with investment monitoring, fee benchmarking, and policy updates. Their education teams run hybrid campaigns—onsite workshops, webinars, SMS nudges—that can materially lift participation and savings rates. For multi-plan sponsors (e.g., 401(a), 403(b), 457(b)), Empower’s consolidated reports and single sign-on create a cohesive, low-friction experience for employees and admins alike.
2) Nationwide
Nationwide is a mainstay in the 457 space, known for broad public-sector coverage and a participant experience that favors clarity over jargon. Enrollment flows are simple, and the mobile app makes it easy for busy employees—firefighters, teachers, utility workers—to adjust deferrals and view progress. Nationwide’s financial wellness library is practical and accessible, with focused content on buy-back service credit decisions, pension coordination, and retirement income strategies that resonate in government plans.
On the admin side, Nationwide’s payroll connectivity is robust. Many HR teams cite fewer file exceptions and faster issue resolution, supported by named client success managers and local field reps who actually show up. Investment flexibility is also a strong point; committees can select low-cost index funds and pair them with a conservative stable value option to suit risk-averse participants. Transparent fee schedules and frequent plan health reviews help committees demonstrate fiduciary diligence without drowning in paperwork.
3) MissionSquare Retirement (formerly ICMA-RC)
MissionSquare focuses squarely on public service employees, and that specialization shows up in the details. Their platform handles unique 457(b) rules—special catch-up in the three years before normal retirement age, multiple bargaining units, and blended 401(a)/457 stacks—with minimal custom development. Participant guidance emphasizes pension integration and retiree medical considerations, helping employees make smarter deferral and distribution decisions given their defined benefit backdrop.
For HR and finance teams, MissionSquare provides granular plan analytics and benchmarking against peer governments, which is invaluable at budget time or when presenting to boards. Their education model blends onsite counseling with virtual office hours and Spanish-language support, increasing reach across shift-based workforces. Investment menus are open-architecture with index cores, a high-quality target-date series, and a well-regarded stable value option—keeping costs sensible while offering familiar choices to participants.
4) Fidelity Workplace Investing
Fidelity brings institutional-grade technology and research to public-sector 457 plans. The participant portal is polished and fast, with excellent digital advice, retirement income planning tools, and strong Roth features. Employees can see all accounts in one view—401(a), 403(b), IRAs—making it easier to coordinate savings. Fidelity’s mobile app is a standout, and its digital onboarding checks boxes for younger hires who expect consumer-grade experiences.
Administrators benefit from Fidelity’s data rigor. Payroll feeds reconcile quickly, contribution errors are flagged with clear remediation steps, and HR reports are exportable for finance, audit, and committee review. Investment architecture is deep but can be kept simple: many sponsors run an index-centric core, a top-tier target-date series, and a conservative capital preservation option to manage overall plan cost. Fidelity’s cybersecurity posture and participant fraud protections are also strong, which matters as more transactions move fully digital.
5) Voya Financial
Voya continues to be a favorite for education and municipal plans, blending participant-centric design with thoughtful plan governance. The participant site focuses on outcomes—retirement income estimates, savings rate guidance, and nudges that encourage small, sustained deferral increases. Voya’s financial wellness resources cover student loan repayment, credit health, and emergency savings, recognizing that holistic financial stability boosts long-term retirement readiness.
On operations, Voya’s Flex file specs and connections to common public-sector payroll/HCM systems reduce manual work for HR. Their service model includes named relationship managers, investment analysts, and experienced compliance specialists who can simplify committee meetings and documentation. Investment lineups tend to balance low-cost index funds with selective active options, and Voya’s stable value choices are competitive for risk-sensitive participants. Fee transparency and periodic benchmarking keep costs aligned to market norms.
6) TIAA
TIAA’s legacy in higher education and research institutions makes it a natural fit for university and hospital 457 plans, including those integrated with 403(b) and 401(a) programs. The platform handles tenure nuances, phased retirement, and supplemental deferral strategies common to academic settings. Participants get strong advice capabilities, lifetime income modeling, and one-on-one counseling—especially valuable for late-career faculty weighing 457(b) vs. 403(b) catch-up options.
For administrators, TIAA is reliable and methodical. Payroll interfaces are stable, data validations are clear, and committee reporting is thorough without being overwhelming. Investment menus often include both broad-market index funds and TIAA’s well-known annuity solutions for those who want predictable income in retirement. Education campaigns are tailored to campus culture and scheduling realities, with seminars, department-level briefings, and virtual sessions to reach adjuncts and staff.
7) Corebridge Financial (formerly AIG/VALIC)
Corebridge brings decades of 403(b)/457 experience to K-12, healthcare, and municipal employers. Participants benefit from straightforward enrollment, Roth capabilities, and access to advisors who can meet onsite or virtually. The platform supports dynamic retirement income projections and scenario testing, helping employees understand trade-offs between deferrals, distribution timing, and pension offsets.
HR teams will appreciate Corebridge’s pragmatic service model. Implementation timelines are predictable, payroll testing is well-structured, and ongoing file monitoring cuts down on contribution corrections. Investment menus can be configured to emphasize cost control—index cores, target-date series, and a conservative capital preservation fund—while still offering select active funds where committees see value. Quarterly plan reviews keep committees on top of participation, savings rates, and retirement readiness metrics.
8) Principal Financial Group
Principal has quietly expanded its public-sector footprint by emphasizing data-driven plan health and clean participant design. The participant experience highlights income in retirement and gives clear guidance on increasing savings, enrolling in Roth, and using catch-up windows effectively. Financial wellness content spans emergency savings, budgeting, and debt management—useful for improving overall financial resilience in the workforce.
On the admin side, Principal delivers both operational discipline and flexibility. Payroll integrations are solid, and their analytics toolbox surfaces at-a-glance insights for committees—participation by department, deferral distribution, and target-date adoption. Investment lineups can be streamlined to keep all-in fees low, and Principal’s stable value solutions are competitive. For employers consolidating multiple vendors, Principal’s transition team is hands-on, minimizing disruption for HR and employees alike.
9) Lincoln Financial Group
Lincoln combines a participant-friendly interface with strong compliance support for sponsors running 457(b) alongside 403(b) or 401(a). The participant portal focuses on achievable next steps—auto-escalation, Roth enrollment, and personalized savings targets—plus easy-to-use distribution tools for separated employees. Education is pragmatic and accessible, with multilingual resources and on-demand webinars tailored to shift workers.
For HR, Lincoln’s implementation and payroll support are organized and responsive. File validations, warning dashboards, and exception reports reduce reconciliation time. Investment menus can be built from a wide shelf, enabling committees to emphasize low-cost index solutions and a high-quality target-date suite while adding a stable value option for capital preservation. Periodic governance reviews keep committees aligned on IPS updates, fee monitoring, and participant outcomes.
10) Equitable
Equitable’s footprint in K-12 and municipal plans is long-standing, and its 457 offering has improved steadily with cleaner digital experiences and more transparent plan architecture. The participant site and app are straightforward, simplifying enrollment, deferral changes, and catch-up elections. Employees get access to guidance and retirement income modeling that clearly shows how a 457 can supplement pensions and Social Security.
From the sponsor perspective, Equitable offers dependable service coverage, including local advisors who run high-touch education programs that fit school calendars and municipal schedules. Investment lineups can be tailored to prioritize cost control, with index cores and target-date series forming the backbone, plus a capital preservation option. Governance materials are well structured, making it easier to prep for committee meetings and address board questions on participation, fees, and readiness.
Tips for Choosing the Right 457 Provider in 2026
- Match the service model to your workforce. If your population spans multiple bargaining units, shifts, and locations, prioritize providers with strong onsite teams and flexible virtual counseling. Ask for calendared outreach plans and participation targets.
- Demand clean, modern tech. Review the participant app live. Check enrollment time, Roth setup, catch-up logic, and distribution ease. On the admin side, ask for sample exception reports, file specs, and implementation timelines.
- Keep investments simple and low-cost. Most successful menus pair a reputable target-date series with low-cost index funds and a conservative capital preservation option. Document your share-class selection and fee benchmarking annually.
- Lean into analytics. Request plan health dashboards that highlight participation, deferral distribution, catch-up usage, and retirement income readiness. Use these insights to build targeted campaigns by department or location.
- Validate cybersecurity and fraud protections. Confirm multi-factor authentication, transaction monitoring, and indemnification policies. Ask how the provider responds to suspected fraud—and how quickly they make participants whole.
- Test payroll early. Involve finance/IT during selection. Run test files before go-live and define SLAs for resolving exceptions. If you’re consolidating vendors, push for a clear blackout plan and participant communications kit.
The Bottom Line
In 2026, the best 457 plan providers pair intuitive participant tools with disciplined operations and transparent fee structures. Empower, Nationwide, MissionSquare, Fidelity, Voya, TIAA, Corebridge, Principal, Lincoln, and Equitable all deliver the essentials—yet they differ in service style, payroll depth, and analytics. Shortlist three, run live demos for both the participant and admin portals, and insist on a clear implementation plan with measurable outcomes. When employees can enroll easily, get relevant guidance, and see real progress toward retirement, your 457 becomes more than a benefit—it becomes a strategic advantage for recruiting and retention.
