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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: 0
Views: 45

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: 5958

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: 403

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: 8609

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: 1722

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: 3802

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: 1113

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: 5117

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: 897

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: 897

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: 396

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: 396

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: 939

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: 939

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: 6229

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: 1516

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: 1781

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: 417

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: 7651

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: 7651

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: 1845

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: 1258

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: 1845

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: 1845

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: 1845

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: 1845

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: 770

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: 1112

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: 1089

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: 1089

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: 1164

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: 1632

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: 1875

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: 1781

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: 1875

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: 1164

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: 1781

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: 1164

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: 1164

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: 1164

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: 1164

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: 1164

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: 1164

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

How about making mention of Revenue Sharing? Great idea! Would saying something like this help to make your points about revenue sharing? Revenue sharing is money that plan providers receive from many of the 401(k) plan's mutual funds. Revenue sharing can be given back to the plan participants, or ...
by fcirullo
Thu Feb 28, 2013 3:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - I need your help with ideas for a wiki article.
Replies: 25
Views: 1164

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

I need your help with ideas that can improve the wiki article Setting up a 401(k) plan . Now that you are getting annual fee disclosures and quarterly statements from service providers that show how much money you pay for the 401(k) plan, do you have any ideas that should be included in the Wiki art...
by fcirullo
Tue Feb 26, 2013 12:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) - I need your help with ideas for a wiki article.
Replies: 25
Views: 1164

Re: Setting up a 401(K) plan

jsiegrist, yes it is typical for an adviser to charge an asset based fee. However, if you can negotiate a flat fee or a per participant fee it would be in your best interests to do so. Regarding a benchmark for plan advisers, your question gave me an idea to do a poll on what others believe is a rea...
by fcirullo
Thu Feb 21, 2013 1:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Setting up a 401(K) plan
Replies: 282
Views: 51429

401(k) - How much is reasonable to pay for advice?

Note: If you feel as I do that people who don't need investment advice should be able to opt out of paying a fee for advice you can vote for that. And you can also vote for what you think would be a reasonable fee for people who do want investment advice. What prompted me to do this poll was as que...
by fcirullo
Thu Feb 21, 2013 12:52 pm
 
Forum: Investing - Theory, News & General
Topic: 401(k) - How much is reasonable to pay for advice?
Replies: 9
Views: 915

Re: 401K help

Hi Mark, I got your private message and replied to it by asking for the information shown below. Because it will take a day or so for my message to arrive in your in box, I answered your question again, here. To answer your question regarding which company would be better to go with than Morgan Stan...
by fcirullo
Thu Feb 21, 2013 12:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: 401K help
Replies: 9
Views: 1156

Re: 401K with "No Out of Pocket Expenses"

Oh, I almost forgot. They do say that recordkeeping services are from ING Institutional Plan Services, but they don't say if ING Institutional Plan Services bills separately for recordkeeping and administration or if they are paid from the expenses shown on this Web site: http://www.abaretirement.co...
by fcirullo
Tue Feb 12, 2013 6:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: 401K with "No Out of Pocket Expenses"
Replies: 5
Views: 735

Re: 401K with "No Out of Pocket Expenses"

My first question is whether anyone can shed light as to whether the above Expense-Ratio fee is the only fee charged by this provider. Apparently, this 401(k) plan was designed for lawyers who define "No out of pocket expenses for the firm and no out of pocket expenses for participants" t...
by fcirullo
Tue Feb 12, 2013 5:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: 401K with "No Out of Pocket Expenses"
Replies: 5
Views: 735
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