Just a little background - I'm 33, wife 32. I've been funding a 401K (Fidelity with quality low-cost fund choices) since the start 12 years ago, and for the past couple of years to the max contribution. I have been maxing my Roth IRA in that entire timeframe also (following general bogglehead guidance). And now for the past 2 years the wife's Roth. I had not pursued use of my wife's tax advantaged space since we really couldn't spare it. In any event now we're starting to abut the Roth limits, so I've been exploring increasing our tax deductable space.
She is a schoolteacher in NY, and both the 403b and 457 are available. I was originally unaware of/ignorant to the 457 and a few months back was looking at her 403b options. Frankly, they are unpalatable, at least in boggleheadian terms. Of the 8 providers, 6 are insurance companies primarily offering annuities. 2 are investment firms, one with very high costs, and while the other does offer a variety of 3rd party mutual funds though their fee structure is unclear and they direct you to an "investment professional" to setup an account - I'm not even certain they offer any kind of online access or management. Provider list shown here: https://omni403b.com/PlanDetail.aspx?cl ... fBPaXU2ug=
Be sure to note how as of 6/12 they removed Vanguard and Fidelity as eligible new providers. Lovely.
Exasperated, I researched the 457 more in depth, and it seems to be a far better option for government employees, at least with regards to the New York State plan: https://www.nysdcp.com/tcm/nysdcp/stati ... ptions.pdf
While the fund offering isn't huge, it does have several Vanguard index funds. Notably missing are REIT and International but I can adjust my AA in other accounts to make up for those. Administrative fees are very attractive. There is also the benefit of being able to make withdrawals upon retirement prior to age 59.5. There seems to be less portability if she were to switch careers or move out of state, but that seems unlikely for quite some time. The forum search suggests that in general the 457 is advantageous if it's a government plan, and the 403b for a private.
So as a sanity check, is there anything I am missing, or any reason the 403 would be more advantageous in our case? Many thanks for the advice, as always.