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Re: Creating a 401k for my company through Employee Fiduciar

Good question, jdasch9. Don't you love it when people treat you right by giving you great answers to your questions on 401(k) plans! I have included this thread in the wiki article Setting up a 401(k) plan . You can find it under Frequently asked questions at http://www.bogleheads.org/wiki/Setting_u...
by fcirullo
Tue Oct 14, 2014 10:24 am
 
Forum: Personal Finance (Not Investing)
Topic: Creating a 401k for my company through Employee Fiduciary
Replies: 85
Views: 3397

Re: Using [a 401(k)] advisor for fiduciary guidance

Good question, and great answers! I have included this thread in the wiki article Setting up a 401(k) plan. You can find it at http://www.bogleheads.org/wiki/Setting_up_a_401(k)_plan under Frequently asked questions.
by fcirullo
Sun Aug 24, 2014 11:34 am
 
Forum: Personal Finance (Not Investing)
Topic: Using [a 401(k)] advisor for fiduciary guidance
Replies: 28
Views: 2501

Re: Your 401k, u die, must beneficiary withdraw within 5 yea

Great question! I have included this thread in the wiki article setting up a 401(k) plan.
Wiki article link: Setting up a 401(k) plan

You can find the link under Frequently asked questions.
by fcirullo
Fri Aug 01, 2014 6:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Your 401k, u die, must beneficiary withdraw within 5 years?
Replies: 20
Views: 2046

Re: 401(k) - What's your opinion?

So, NO; the fee disclosure has had no measurable impact on the 401(k) industry. It is business as usual. Disclosure is meaningless if employees have no say in the fund selection. Expensive 401(k) plans will be around forever until employees start leaving jobs because the fees in the 401(k) plan are...
by fcirullo
Thu Jul 31, 2014 10:42 am
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - What's your opinion?
Replies: 9
Views: 1050

Re: 401(k) - What's your opinion?

placeholder wrote:Do you expect me to do a nation wide survey of a representative sample of plans to see if any came down?
No, I just wanted to know if you had an opinion.
by fcirullo
Tue Jul 29, 2014 6:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - What's your opinion?
Replies: 9
Views: 1050

Re: 401(k) - What's your opinion?

Tough question. Too soon? It may be too soon to ask this question, but I'm not sure how much time employers who have high cost plans should be given to wake up to the fact that investments are a plan's biggest cost and neither they nor their consultant has the skills to pick managed funds that will...
by fcirullo
Tue Jul 29, 2014 6:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - What's your opinion?
Replies: 9
Views: 1050

Re: 401(k) - What's your opinion?

placeholder wrote:How would I possibly know?
Are you saying that you have no way of knowing what plans other than yours costs? Or are you asking what a low cost 401(k) plan looks like so that you can use it as a benchmark to compare the cost and investment performance of 401(k) plans?
by fcirullo
Tue Jul 29, 2014 5:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - What's your opinion?
Replies: 9
Views: 1050

401(k) - What's your opinion?

Has the mandatory 401(k) Fee Disclosure that became effective over nineteen months ago helped to lower plan costs to where they should be? Or has it been a failure?
by fcirullo
Tue Jul 29, 2014 12:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - What's your opinion?
Replies: 9
Views: 1050

Re: 401k Benchmarks

I'm involved in yet another struggle to get a better 401k plan at my current employer. I could use some help locating benchmark information to counter some of the unsubstantiated claims that the various TPA's are throwing out. Most employees don't know how lucky they are to have an associate like y...
by fcirullo
Tue May 06, 2014 2:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401k Benchmarks
Replies: 27
Views: 6023

Re: Good Post on Costs of Bad 401(k) Plans

JamesSFO, thank you for posting this article. It's a good article that should open the eyes of the employers who read it. But it probably won't change how most employers manage their 401(k) plan. Why? It's because employers give themselves reasons to do whatever they want to do at the moment! For in...
by fcirullo
Wed Feb 26, 2014 12:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Good Post on Costs of Bad 401(k) Plans
Replies: 2
Views: 420

Re: Why bad/expensive 401(k)s will likely always be with us

Neurosphere, great topic and excellent responses from the Bogleheads, as well! I, too, am grateful that there is a place such as Bogleheads, which helps to get out the costs matter message. I have included this thread in the Wiki article Setting up a 401(k) plan. The link to this thread is located u...
by fcirullo
Fri Feb 21, 2014 10:18 am
 
Forum: Personal Finance (Not Investing)
Topic: Why bad/expensive 401(k)s will likely always be with us
Replies: 116
Views: 9043

Re: Employer contribution safe harbor 401k

Be nice, but ask the employer to show you how it was determined that it's legal to do this. Let us know what you find out. Okay?
by fcirullo
Sun Oct 20, 2013 8:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Employer contribution safe harbor 401k
Replies: 18
Views: 1827

Re: Costs are out of control!!! 401(k) Committee

Congratulations on your decision to improve your 401(k) plan! I have read the comments, and you have been given some great advice. Because the other 401(k) plan committee members appear to be on board with your ideas, you should switch to a lower cost administrator and get a menu of the exact index ...
by fcirullo
Tue Sep 10, 2013 10:56 am
 
Forum: Personal Finance (Not Investing)
Topic: Costs are out of control!!! 401(k) Committee
Replies: 43
Views: 3884

Re: Lobbying for 401K funds

Good question and great answers! I have included this thread under Forum discussions in the wiki article Setting up a 401(k) plan

Best wishes,

Frank R. Cirullo
by fcirullo
Sat Aug 10, 2013 12:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Lobbying for 401K funds
Replies: 24
Views: 1174

Re: Consumer Reports references Bogleheads.org

Great article! Thank you for posting it. I agree that every employee and employer should read it. Yes, even many of the large 401(k) and 403(b) plans still cost way more than they should. I'm glad that Consumer Reports included this information in the article: " Smaller employers in the dark Mo...
by fcirullo
Sat Aug 03, 2013 10:57 am
 
Forum: Investing - Theory, News & General
Topic: Consumer Reports references Bogleheads.org
Replies: 24
Views: 5138

Re: FINRA's new 5-question financial capabiliy quiz is out t

Thank you. I did not see the previous post. FINRA sends me e-mails, and I just got this new 5-question quiz from them. Sorry!
by fcirullo
Fri Jun 07, 2013 10:28 am
 
Forum: Investing - Theory, News & General
Topic: FINRA's new 5-question financial capabiliy quiz is out today
Replies: 9
Views: 984

FINRA's new 5-question financial capabiliy quiz is out today

If you took FINRA's 15-question financial capability quiz last month, you may want take their new 5-question quiz, which shows you State-by-State results. If you want to take this new 5-question quiz and see how your results compare to others in your state, it's at: http://www.usfinancialcapability....
by fcirullo
Fri Jun 07, 2013 10:14 am
 
Forum: Investing - Theory, News & General
Topic: FINRA's new 5-question financial capabiliy quiz is out today
Replies: 9
Views: 984

Re: 401(k) - The U.S. Labor Department wants your ideas

Darn, I was hoping the DOL would want our input on how to improve the 401K system, like how people with crummy plans could have to option to use the government plan with those nice low costs and basic index funds.RM You may submit your ideas by one of the following methods: -- Federal eRulemaking P...
by fcirullo
Fri May 10, 2013 12:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - The U.S. Labor Department wants your ideas
Replies: 2
Views: 413

401(k) - The U.S. Labor Department wants your ideas

Note: This is an opportunity for you to provide input into the development of new regulations. The U.S. Labor Department wants your ideas on the best ways to improve 401(k) and 403(b) plan statements so that they show workers what their savings could look like when stretched over the course of reti...
by fcirullo
Fri May 10, 2013 11:47 am
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - The U.S. Labor Department wants your ideas
Replies: 2
Views: 413

Re: Asking to Add Better Options to the Company 401(k)

In writing, ask the decision maker(s) this question:
Is there any reason why the Vanguard Total Bond Market ETF and the Vanguard Total Stock Market ETF can't be included in the menu? Next, explain why it makes sense to include these two funds.
by fcirullo
Fri May 03, 2013 8:46 am
 
Forum: Investing - Theory, News & General
Topic: Asking to Add Better Options to the Company 401(k)
Replies: 12
Views: 1006

Re: Asking to Add Better Options to the Company 401(k)

My company is doing its annual 401(k) review and I am thinking of asking for better fund options. Specifically, better bond options. Has anyone done this? And if so, what did you find to be successful? Did you ask for specific funds or general criteria (low expenses, specific class, etc.)? Thanks i...
by fcirullo
Wed May 01, 2013 9:11 am
 
Forum: Investing - Theory, News & General
Topic: Asking to Add Better Options to the Company 401(k)
Replies: 12
Views: 1006

Can You Ace FINRA's Financial Literacy Quiz?

April is Financial Capability Month, and FINRA Foundation research shows that only 14 percent of Americans could pass their financial literacy quiz. If you want to take FINRA's fifteen question financial literacy quiz, it's at: http://apps.finra.org/quiz/1/investorquiz.aspx . Note - You will get you...
by fcirullo
Thu Apr 25, 2013 8:07 pm
 
Forum: Investing - Theory, News & General
Topic: Can You Ace FINRA's Financial Literacy Quiz?
Replies: 111
Views: 6289

Re: Campaigning for a better 401(k) Question

I just wanted to provide an update to this thread that I started in February and reiterate my thanks to those that have contributed their knowledge. Some progress has been made thanks to you. Mr. President (who is also the fiduciary trustee) setup a conference call between him, me, my sister, and t...
by fcirullo
Tue Apr 16, 2013 11:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Campaigning for a better 401(k) Question
Replies: 16
Views: 2025

Re: 401(k) - What's your opinion on revenue sharing?

Beelzebozo wrote:My opinion on revenue sharing is that it is wholly unnecessary in this day and age.

I have read your posts on 401(k) and 403(b) plans and appreciate your input. Your ideas will be helpful to anyone who wants a better 401(k) or 403(b) plan. Thank you, Beelzebozo!

Best wishes,

Frank R. Cirullo
by fcirullo
Mon Mar 25, 2013 9:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - What's your opinion on revenue sharing?
Replies: 12
Views: 2133

Re: Success changing 403b fund options

hoppy08520 wrote:I'm glad people post these success stories as a way to motivate others to agitate just a little bit.

I, too, am glad that people post their stories...it encourages others to ask for what they want. Well done, thinkingmama!
by fcirullo
Mon Mar 25, 2013 9:49 pm
 
Forum: Investing - Theory, News & General
Topic: Success changing 403b fund options
Replies: 3
Views: 428

Re: How do I build wealth?

That is one of my favorites, fcirullo. I had always thought it was attributed to Calvin Coolidge. Travellight, I believe you are correct. Thank you! I edited the post to change the author, and I also included an important note in my post, which is above at: http://www.bogleheads.org/forum/viewtopic...
by fcirullo
Sun Mar 24, 2013 1:30 pm
 
Forum: Investing - Theory, News & General
Topic: How do I build wealth?
Replies: 87
Views: 7835

Re: How do I build wealth?

You have been given some good advice! Regarding the work you do to earn money…remember to do it with passion. And remember to read stuff that inspires you. For instance, I like the following quotes: 1. Learn to live on less money and have more fun. Life will go by anyway, whether you enjoy it or not...
by fcirullo
Sat Mar 23, 2013 11:51 am
 
Forum: Investing - Theory, News & General
Topic: How do I build wealth?
Replies: 87
Views: 7835

Re: 401(k) - Employees who want a better plan need your advi

Thank you for your ideas...they will be helpful to employees and employers who want a better 401(k) or 403(b) plan. Please continue to post any other ideas that you may think of because this thread has now been linked to the following wiki articles. Wiki article link: How to Campaign for a Better 40...
by fcirullo
Thu Mar 21, 2013 10:50 am
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - Employees who want a better plan need your advice.
Replies: 25
Views: 2062

Re: 401k Employer Match Increasing Scale???

copesetic wrote:We looked into that with EF and they said we can't setup our plan this way.

If there are no rules or regulations that would prevent a company from doing it, why can't they set it up that way?
by fcirullo
Wed Mar 20, 2013 3:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401k Employer Match Increasing Scale???
Replies: 7
Views: 1849

Re: 401(k) - Employees who want a better plan need your advi

Maybe contact Employee Fiduciary or whatever other desired provider to have them contact the company? I have thought about that as I also don't want to "rock the boat". Your idea is worth trying because every business needs to prospect for new customers. Ask Employee Fiduciary, Fidelity, ...
by fcirullo
Mon Mar 18, 2013 12:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - Employees who want a better plan need your advice.
Replies: 25
Views: 2062

Re: 401(k) - Employees who want a better plan need your advi

The "bag of tricks" that high-fee plan salesmen use to lure sponsors into their plans only seems to grow as regulations require ever greater fee disclosure. The two I've seen most recently are (a) the promise of lower sponsor fees; and (b) the fear tactic of warning that lower-fee plans w...
by fcirullo
Mon Mar 18, 2013 11:14 am
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - Employees who want a better plan need your advice.
Replies: 25
Views: 2062

Re: 401(k) - Employees who want a better plan need your advi

Clever_Username wrote:OP: have you checked out How to Campaign for a better 401(k) plan in the wiki?

Yes, isn't it great! Let's give a big round of applause for Pkcrafter, Blbarnitz, PiperWarrior, LadyGeek, and Hoppy08520 for their work on the article.
by fcirullo
Sun Mar 17, 2013 1:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - Employees who want a better plan need your advice.
Replies: 25
Views: 2062

401(k) - Employees who want a better plan need your advice.

Even with the new fee disclosure rules, many owners, CEOs, and presidents still have a 401(k) plan that costs way more than it should. And it appears that they don't have a clue that plans that have a menu of managed mutual funds require more time to set up, manage, and monitor than a plan that has ...
by fcirullo
Sun Mar 17, 2013 10:01 am
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - Employees who want a better plan need your advice.
Replies: 25
Views: 2062

Re: how employer's fund selection affects 401k performance

Great post! This thread is now linked to the wiki article Setting up a 401(k) plan . You can find the link under Forum Discussions.
by fcirullo
Fri Mar 08, 2013 6:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: how employer's fund selection affects 401k performance
Replies: 10
Views: 780

Re: The Online 401K

spsbo1 wrote:Has anyone had experience dealing with them as Third Party Administrators of 401Ks?


Please read this post by alinna at viewtopic.php?p=1611648#p1611648 . After you read it, you may want to send a pm with your questions about The online 401(k).

Best wishes,

Frank
by fcirullo
Fri Mar 08, 2013 6:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Online 401K
Replies: 3
Views: 1634

Re: 401(k) - What does the ideal match and vesting look like

The wiki article, Setting up a 401(k) plan , now has a link to this thread. You can find the link under Under Forum Discussions. Note: The idea of the wiki article is to show employers how to set up, manage, and monitor a truly low cost 401(k) plan. But the idea is also to show employees what a low ...
by fcirullo
Tue Mar 05, 2013 1:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - What does the ideal match and vesting look like?
Replies: 11
Views: 1426

401(k) - What does the ideal match and vesting look like?

How much should company's match to attract employees?

From the employer's point of view, what would the ideal vesting schedule look like? Would it be immediate? If not, how many years should it be over?
by fcirullo
Tue Mar 05, 2013 1:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - What does the ideal match and vesting look like?
Replies: 11
Views: 1426

Re: 401(k) - I need your help with ideas for a wiki article.

Thank you for your great ideas! So far, I've started threads on a couple of your ideas but still need to start a thread on peppers' idea on vesting. You've come up with good ideas such as including information on revenue sharing, Self-Directed Brokerage Accounts, and vesting. If you have more ideas ...
by fcirullo
Tue Mar 05, 2013 12:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - I need your help with ideas for a wiki article.
Replies: 25
Views: 1202

Re: 401(k) - Satisfied that costs YOU pay are being disclose

The wiki article, Setting up a 401(k) plan , now has a link to this thread. You can find the link under Under Forum Discussions. Note: The idea of the wiki article is to show employers how to set up, manage, and monitor a truly low cost 401(k) plan. But the idea is also to show employees what a low ...
by fcirullo
Tue Mar 05, 2013 12:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - Satisfied that costs YOU pay are being disclosed?
Replies: 23
Views: 1650

Re: 401(k): Are Self-Directed Brokerage Accounts a good idea

The wiki article, Setting up a 401(k) plan , now has a link to this thread. You can find the link under Under Forum Discussions. Note: The idea of the wiki article is to show employers how to set up, manage, and monitor a truly low cost 401(k) plan. But the idea is also to show employees what a low ...
by fcirullo
Tue Mar 05, 2013 12:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k): Are Self-Directed Brokerage Accounts a good idea?
Replies: 23
Views: 2501

Re: 401(k) - What's your opinion on revenue sharing?

The wiki article, Setting up a 401(k) plan , now has a link to this thread. You can find the link under Under Forum Discussions. Note: The idea of the wiki article is to show employers how to set up, manage, and monitor a truly low cost 401(k) plan. But the idea is also to show employees what a low ...
by fcirullo
Tue Mar 05, 2013 12:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - What's your opinion on revenue sharing?
Replies: 12
Views: 2133

401(k): Are Self-Directed Brokerage Accounts a good idea?

What's your opinion on Self-Directed Brokerage Accounts within a 401(k) plan? Are they a good idea or a bad idea?
by fcirullo
Tue Mar 05, 2013 10:09 am
 
Forum: Personal Finance (Not Investing)
Topic: 401(k): Are Self-Directed Brokerage Accounts a good idea?
Replies: 23
Views: 2501

Re: 401(k) - I need your help with ideas for a wiki article.

One of the features of a plan that employers should think about is whether to offer a brokerage option in addition to the specific investment funds listed in the plan. This option is important to some employees, and it may also be important to the employer in terms of the fees they pay. As part of ...
by fcirullo
Mon Mar 04, 2013 4:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - I need your help with ideas for a wiki article.
Replies: 25
Views: 1202

401(k) - What's your opinion on revenue sharing?

What's your opinion on revenue sharing? Is it a good thing or a bad thing for the plan sponsor (employer)? Is it a good thing or a bad thing for the participant (employee)? Links to wiki articles: Setting up a 401(k) plan Mutual Funds and Fees Note: Revenue sharing is money that plan providers recei...
by fcirullo
Mon Mar 04, 2013 10:13 am
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - What's your opinion on revenue sharing?
Replies: 12
Views: 2133

Re: 401(k) - I need your help with ideas for a wiki article.

My question on revenue sharing goes beyond 401(k) plans. Or, perhaps I don't understand the difference between revenue sharing and fees paid by funds to promote their products (compensation paid to investment advisers). Other folks, here, may want to provide more details, but basically it's like th...
by fcirullo
Sun Mar 03, 2013 11:55 am
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - I need your help with ideas for a wiki article.
Replies: 25
Views: 1202

Re: 401(k) - I need your help with ideas for a wiki article.

This thread is already mixing a number of topics. If you can split them out, that's great. I'll start two new threads. I think each thread should have a poll and a discussion. Then I'll put a link to the thread in the wiki article. Unless someone has a better idea, the questions will be as follows:...
by fcirullo
Sun Mar 03, 2013 10:23 am
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - I need your help with ideas for a wiki article.
Replies: 25
Views: 1202

Re: 401(k) - I need your help with ideas for a wiki article.

peppers wrote:What about a vesting Schedule? My plan requires an individual to be with the company three years before the company match is vested.
I'm not sure what you have in mind. Please elaborate.
by fcirullo
Sat Mar 02, 2013 5:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - I need your help with ideas for a wiki article.
Replies: 25
Views: 1202

Re: 401(k) - I need your help with ideas for a wiki article.

krayzbone227 wrote:I was referring to 401(k) vs 401(k)/Profit Sharing vs Profit Sharing as 3 different iterations, with your interest perhaps just on the first two.

Please cobble a short paragraph that says what you think employers and employees need to know about this topic. Okay?
by fcirullo
Sat Mar 02, 2013 5:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - I need your help with ideas for a wiki article.
Replies: 25
Views: 1202

Re: 401(k) - I need your help with ideas for a wiki article.

Can you go into a little more detail and explain where the revenue sharing money comes from? A few years ago, my MegaEmployer's 401(k) plan provider was suing the fund managers for improper revenue sharing (they were revenue sharing among each other). I couldn't find out the details, nor the result...
by fcirullo
Sat Mar 02, 2013 5:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - I need your help with ideas for a wiki article.
Replies: 25
Views: 1202

Re: 401(k) - I need your help with ideas for a wiki article.

For this particular wiki article, I would like to keep as simple as possible by simply showing employers and employees how to set up, manage, and monitor a 401(k) plan--fast. I believe you are talking about a "Combo Plan” that combines a Defined Contribution (401k Profit Sharing) Plan and Defin...
by fcirullo
Fri Mar 01, 2013 10:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - I need your help with ideas for a wiki article.
Replies: 25
Views: 1202
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