How frustrated, if at all, are you with your 401k plan?

[lucas80]

Not the returns, but the administration and information you get? Fidelity runs ours, and they don't seem very willing to tell investors just how much they are taking for management fees. My HR department isn't much help. The individual fund fees are published. I feel like I am becoming a pest to them, because I keep asking how much, and they tell me, "Oh, the rep says they are very comparable to other fund managers". I ask why we have 28 fund choices, almost half of which are house funds? So, take away those, and the bond / money market funds, and we have 11 funds to pick from. No ETF funds, either.
I've given quite a few specific questions to the HR person who is part of the group that meets with Fidelity, and I have been assured they will ask at the next quarterly meeting. It's almost like Fidelity wants us in the dark, and the working group parrots their talking points.

 

[BrianNole777]

I have a Roth IRA with Vanguard.

They're pretty good.

CSB.

 

[billanole]

I get decent updates and am pretty happy with results.
That is a tight fisted group when it comes to updates.

 

[HROT]

Absolutely. The hiding or naming of fund fees as “administrative fees” is a racket.

Granted, I hate my 401k provider just for their crappy ass site (Voya) and app.

 

[Phenomenally Frantastic]

Lucas the entire industry is shrouded in confuscation and mystery by design.

The “plan” pays administration fees and expenses.

The mutual funds they steer you towards have expense ratios, which are made up of other funds that have expense ratios within those funds.

Typically three levels of fees structures.

It is intentional.

One can look up most funds and their ER on morningstar. Here is VFIAX, Vanguard’s S&P 500 fund with industry low 0.04% ER. Just use the search button to look for other tickers.

https://www.morningstar.com/funds/xnas/vfiax/quote

 

[Flie]

I’m pleased with mine. It’s with Empower.

 

[lucas80]

I received an email from the point of contact with Fidelity. They are very, very competitive per their rep, she values my concerns even though I seem ungrateful for asking, and they are super busy in HR right now with stuff and things, and in 2025 they are totally looking at possibly making some changes.
So, my takeaway is she doesn't know what percentage Fidelity is taking, and she went to the Trad school of HR.

 

[luvmyhawks]

give me the name of the plan and I can tell you the fees

 

[MeetTheFerentzes]

Chances are I am paying a small amount of fees that I don’t realize, but there’s nothing I can do about it so WGAF?

 

[Kinnick.At.Night]

Mine is through Fidelity. I'm fine with the reports I get every few months. Honestly, I've never really thought about what fees I may or may not be paying. I just look at the updated account values and put it in the filing cabinet. I don't plan on it being anything more than fun money in retirement anyway.

 

[bhawk24bob]

Which one? I think I have 6 of them