Are my 401k fees ridiculously high?

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Topic Author
Jimmy21
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Are my 401k fees ridiculously high?

Post by Jimmy21 » Thu Apr 11, 2019 6:21 pm

The 401k for our union has fees of

$10 per month
$10 per quarter
.1% apy
.15% apy


Is $160 per year plus .25% really high?

vu8
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Re: Are my 401k fees ridiculously high?

Post by vu8 » Thu Apr 11, 2019 6:22 pm

that ain't nothing, i have 2000 in OPERS, OPERS direct contribution plan has a 60 dollar per year fee, that would be a raw, 3% expense ratio not counting the expense ratio of the fund itself.

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FiveK
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Re: Are my 401k fees ridiculously high?

Post by FiveK » Thu Apr 11, 2019 6:29 pm

Jimmy21 wrote:
Thu Apr 11, 2019 6:21 pm
Is $160 per year plus .25% really high?
Yes, if you have only a few thousand dollars invested.

If you have ~$100K invested, that's 0.41% which is "high" but not "really high."

The more you invest, the lower that $160 will seem....

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Jimmy21
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Re: Are my 401k fees ridiculously high?

Post by Jimmy21 » Thu Apr 11, 2019 6:56 pm

Those fees also dont include the expense ratios of the funds themselves. Most of the funds are .5%. But there is some sort of sp500 index that is .04%


Ive been talking to people at work and they are all complete oblivious to the fees and most have less than 10k in there

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whodidntante
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Re: Are my 401k fees ridiculously high?

Post by whodidntante » Thu Apr 11, 2019 7:09 pm

Jimmy21 wrote:
Thu Apr 11, 2019 6:56 pm
Ive been talking to people at work and they are all complete oblivious to the fees and most have less than 10k in there
That's probably why your fees are as high as they are. 401k plan fees can be lowered in situations where the employer picks up more of the cost of running the plan, and/or when the plan assets grow large and give the employer more bargaining power. Many employers will not pick up more of the cost or go through the hassle of negotiating better terms if the employees are passive and really don't notice or care.

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Jimmy21
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Re: Are my 401k fees ridiculously high?

Post by Jimmy21 » Thu Apr 11, 2019 7:25 pm

whodidntante wrote:
Thu Apr 11, 2019 7:09 pm
Jimmy21 wrote:
Thu Apr 11, 2019 6:56 pm
Ive been talking to people at work and they are all complete oblivious to the fees and most have less than 10k in there
That's probably why your fees are as high as they are. 401k plan fees can be lowered in situations where the employer picks up more of the cost of running the plan, and/or when the plan assets grow large and give the employer more bargaining power. Many employers will not pick up more of the cost or go through the hassle of negotiating better terms if the employees are passive and really don't notice or care.
Maybe true, theres thousands of people using it, though.

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willthrill81
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Re: Are my 401k fees ridiculously high?

Post by willthrill81 » Thu Apr 11, 2019 7:50 pm

Jimmy21 wrote:
Thu Apr 11, 2019 7:25 pm
whodidntante wrote:
Thu Apr 11, 2019 7:09 pm
Jimmy21 wrote:
Thu Apr 11, 2019 6:56 pm
Ive been talking to people at work and they are all complete oblivious to the fees and most have less than 10k in there
That's probably why your fees are as high as they are. 401k plan fees can be lowered in situations where the employer picks up more of the cost of running the plan, and/or when the plan assets grow large and give the employer more bargaining power. Many employers will not pick up more of the cost or go through the hassle of negotiating better terms if the employees are passive and really don't notice or care.
Maybe true, theres thousands of people using it, though.
You might want to have a pleasant conversation with your HR department to see what would be necessary to lower the plan's fees for everyone.

Be glad that your only S&P 500 index fund isn't RYSYX; its expense ratio is 2.33%.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

dbr
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Re: Are my 401k fees ridiculously high?

Post by dbr » Thu Apr 11, 2019 7:54 pm

willthrill81 wrote:
Thu Apr 11, 2019 7:50 pm

You might want to have a pleasant conversation with your HR department to see what would be necessary to lower the plan's fees for everyone.

Be glad that your only S&P 500 index fund isn't RYSYX; its expense ratio is 2.33%.
Since he mentions union I wonder how much of this is actually part of a labor contract. Maybe the union leadership needs to address this.

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Jimmy21
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Re: Are my 401k fees ridiculously high?

Post by Jimmy21 » Thu Apr 11, 2019 10:07 pm

dbr wrote:
Thu Apr 11, 2019 7:54 pm
willthrill81 wrote:
Thu Apr 11, 2019 7:50 pm

You might want to have a pleasant conversation with your HR department to see what would be necessary to lower the plan's fees for everyone.

Be glad that your only S&P 500 index fund isn't RYSYX; its expense ratio is 2.33%.
Since he mentions union I wonder how much of this is actually part of a labor contract. Maybe the union leadership needs to address this.
I don't think the leadership would care as much as the membership. I would like to address everyone, but i want to have some facts to back up my statements. I can't find a good basis for what normal fees are. What would you guys consider low, average and high fees.


I would like to present it in sort of like:

If you have $3,000, you are paying 5.5% to 6% fees. Your account will likely lose value over time. Losing more and more as the account goes lower
If you have $5,000, you are paying 3.5% to 4% in fees. This is likely the break even point. Your account will probably not go up or down over time
If you have $10,000,you are paying 1.85% to 2.15%. About 4x what would be considered high fees
if you have $50,000,you are paying .75% to 1.25% in fees. About 2x to 3x what would be considered high fees
If you have $100,000, you have paying about .5% to 2% in fees.About 1x to 2x what would be considered high fees.
If you have anything over $200,000, your fees are reasonable


Would that be close to accurate? I don't know if expense ratios are reasonable to call fees. Im new to this

stocknoob4111
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Re: Are my 401k fees ridiculously high?

Post by stocknoob4111 » Thu Apr 11, 2019 10:42 pm

I pay 0.15%.. my employer may be absorbing some of the costs but that is not visible to me

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willthrill81
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Re: Are my 401k fees ridiculously high?

Post by willthrill81 » Thu Apr 11, 2019 10:51 pm

Neither of the 401k plans I've had required me to pay any fees at all beside the ERs of the funds.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

Spirit Rider
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Re: Are my 401k fees ridiculously high?

Post by Spirit Rider » Thu Apr 11, 2019 11:32 pm

willthrill81 wrote:
Thu Apr 11, 2019 10:51 pm
Neither of the 401k plans I've had required me to pay any fees at all beside the ERs of the funds.
Sometimes the plan quoted ERs of funds actually have admin fees baked into the ERs. However, if your ERs are the same as the funds available directly from the fund company, that is an indication that you work for one of the good guys. Where your employer is covering all of the administrative and operational fees directly as an employee benefit.

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willthrill81
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Re: Are my 401k fees ridiculously high?

Post by willthrill81 » Thu Apr 11, 2019 11:42 pm

Spirit Rider wrote:
Thu Apr 11, 2019 11:32 pm
willthrill81 wrote:
Thu Apr 11, 2019 10:51 pm
Neither of the 401k plans I've had required me to pay any fees at all beside the ERs of the funds.
Sometimes the plan quoted ERs of funds actually have admin fees baked into the ERs. However, if your ERs are the same as the funds available directly from the fund company, that is an indication that you work for one of the good guys. Where your employer is covering all of the administrative and operational fees directly as an employee benefit.
I'm not sure if the specific fund classes I have access to are available to the public, but with many ERs on good funds being below 10 basis points and no other fees to me, I'm not complaining. :D
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

dbr
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Re: Are my 401k fees ridiculously high?

Post by dbr » Fri Apr 12, 2019 8:46 am

Jimmy21 wrote:
Thu Apr 11, 2019 10:07 pm


I don't think the leadership would care as much as the membership. I would like to address everyone, but i want to have some facts to back up my statements. I can't find a good basis for what normal fees are. What would you guys consider low, average and high fees.


I worked for a megacorp that has no fees for its 401k plan. Based on the Form 5500 I think they are paying the plan administrator about 0.15% to run the plan. The employees pay nothing. It is possible that at some point they hire legal or financial advice on how the plan is established but there are no paid advisors as such. There is a directed brokerage option that allows participants to put their money at Schwab and buy pretty much anything they want. That costs the employee $10/month plus either no fees for NTF funds or a small commission for funds with transaction costs, such as Vanguard funds. Funds have expense ratios. ERs are operating costs of funds and not usually labelled as fees. Our plan has very low ER funds in the range 0.04%-0.10%. At one time we had an S&P 500 fund at 0.01% ER. There are one or two oddball funds that are more. A person could invest at the brokerage link in a high ER fund, but that is on them.

For another low cost model you could look to the Federal Government TSP plan, though some of those costs are subsidized.

In my opinion the plan I have, or the TSP, is low cost and anything else is high cost, period. A problem in the 401k system is that no retirement plan should have costs other than low costs, but too many do. In general a 401k plan should be cheaper than anything an individual investor can arrange, for example, at Vanguard, because the funds should be available to a plan at insititutional rather than retail expenses, usually associated with purchase minimums plans wide of several hundred million dollars in a fund. Note my plan has assets of around $30B which makes 0.15% about a $45,000,000 business for the administrative company, which is Aon-Hewitt.

Papajoe56
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Re: Are my 401k fees ridiculously high?

Post by Papajoe56 » Fri Apr 12, 2019 8:54 am

In my opinion you are getting ripped off. Just another skim from participants to the union coffers. You may be better off doing IRA if you are not getting a company match. My wife's plan does not have those additional fees you mentioned,and she does not participate in her 401-K plan.
The reasons are:
-company pays no match
-the funds are mediocre
-funds have high mgmt. fees.

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goingup
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Re: Are my 401k fees ridiculously high?

Post by goingup » Fri Apr 12, 2019 9:00 am

I'd encourage you to participate and contribute the maximum you can afford. The automation of 401K contributions from payroll deduction is a stealth way to accrue wealth.

I have never seen a 401K plan that has both a flat monthly fee and quarterly fee. That doesn't sound right. I've also never seen admin fees listed as "apy". I feel as though you're missing some information. Also, the fact that they do have an SP500 fund with an .04 ER leads me to believe the overall plan isn't especially bad. :happy

Brightscope noted that average overall plan fees are now less than 1%, and improving over time. https://blog.brightscope.com/2018/03/15 ... 01k-study/.

Jags4186
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Re: Are my 401k fees ridiculously high?

Post by Jags4186 » Fri Apr 12, 2019 9:15 am

My wife’s 401k is charged some percent quarterly although I have yet to figure out when they calculate that expense. On an approximately $80k balance she is hit up for around $50-$80 a quarter. Fortunately the plan only contains Vanguard admiral funds, but at the end of the day it’s still around a 0.25% - 0.5% additional fees I’d rather not be paying.

My employer charges nothing and has an assortment of active funds with 0.5-1.5% fees, a stable value fund that pays 3.5%, some PIMCO bond funds, an assortment of TDFs with 0.3%-0.6% fees, and 3 institutional class Black Rock funds—US Large Cap, Mid Cap, and Small Cap and they charge .04%, .07% and .07% respectively.

Papajoe56
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Re: Are my 401k fees ridiculously high?

Post by Papajoe56 » Fri Apr 12, 2019 9:17 am

Jimmy21 wrote:
Thu Apr 11, 2019 6:56 pm
Those fees also dont include the expense ratios of the funds themselves. Most of the funds are .5%. But there is some sort of sp500 index that is .04%


Ive been talking to people at work and they are all complete oblivious to the fees and most have less than 10k in there
Put all your 401-K contributions into S&P 500 index fund offered, and diversify your portfolio with funds in an IRA at Vanguard, Fidelity,Schwabb etc.

On my last job I put all my contributions in the two Vanguard funds offered in the plan,and used other funds at Vanguard/Fidelity to diversify.

When I went to work for the bank, they used the ADP/Goldman Sachs fund options.

I made a case to all the honchos on 401-K committee and to HR that expenses were too high and funds were bad.

Found out the bank paid ADP .75% per year to manage plan.

A year later we had a plan offered by a local group that saved the bank .25% per year in fees.

A rep was available to talk with employees, and he held a qtrly. 401-K group meeting.

The funds offered were mostly Vanguard, with better performance and mgmt. fees.

deltaneutral83
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Re: Are my 401k fees ridiculously high?

Post by deltaneutral83 » Fri Apr 12, 2019 11:16 am

goingup wrote:
Fri Apr 12, 2019 9:00 am
I'd encourage you to participate and contribute the maximum you can afford. The automation of 401K contributions from payroll deduction is a stealth way to accrue wealth.

I have never seen a 401K plan that has both a flat monthly fee and quarterly fee. That doesn't sound right. I've also never seen admin fees listed as "apy". I feel as though you're missing some information. Also, the fact that they do have an SP500 fund with an .04 ER leads me to believe the overall plan isn't especially bad. :happy

Brightscope noted that average overall plan fees are now less than 1%, and improving over time. https://blog.brightscope.com/2018/03/15 ... 01k-study/.
You can automate contributions to mutual funds in a taxable account I would assume just as easily as a 401k. And if a 401k was all in above 1.7%, then it's time to think about any contributions over the match to taxable.

lawman3966
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Re: Are my 401k fees ridiculously high?

Post by lawman3966 » Fri Apr 12, 2019 12:29 pm

Your fees are not high compared to what I've experienced.
One former employer's 401K plan was with an insurance company. The plan had a wrap fee of about 1% and offered quasi-mutual-fund products with expense ratios of between 1% and 1.5%, providing a total AUM cost burden between 2% and 2.5%.
As bad as that was, there are (or at least there were) 401K plans with still higher fees. Ultimately, we moved to another firm, and I successfully argued to have our new firm establish a 401K plan with Employee Fiduciary.
Compared to the above, your plan is ok.

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goingup
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Re: Are my 401k fees ridiculously high?

Post by goingup » Fri Apr 12, 2019 12:38 pm

deltaneutral83 wrote:
Fri Apr 12, 2019 11:16 am
goingup wrote:
Fri Apr 12, 2019 9:00 am
I'd encourage you to participate and contribute the maximum you can afford. The automation of 401K contributions from payroll deduction is a stealth way to accrue wealth.

I have never seen a 401K plan that has both a flat monthly fee and quarterly fee. That doesn't sound right. I've also never seen admin fees listed as "apy". I feel as though you're missing some information. Also, the fact that they do have an SP500 fund with an .04 ER leads me to believe the overall plan isn't especially bad. :happy

Brightscope noted that average overall plan fees are now less than 1%, and improving over time. https://blog.brightscope.com/2018/03/15 ... 01k-study/.
You can automate contributions to mutual funds in a taxable account I would assume just as easily as a 401k. And if a 401k was all in above 1.7%, then it's time to think about any contributions over the match to taxable.
Sure, you could automate contributions to a taxable account. Then you could tap those funds to buy a new home, car, or remodel a bathroom. But if you want to save for retirement in the most tax-advantageous way, it means using a 401K or IRA.

I happen to think using a 401K is the path of least resistance, which usually means it actually works as a savings plan because after the initial sign-up, contributions chug along forever. As great as an IRA is, it requires more effort on an individual's part. A savings plan that requires effort and discipline is a plan with a greater chance of failure.

(Btw, I'm still unsure about the OP's actual plan costs.)

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Jimmy21
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Re: Are my 401k fees ridiculously high?

Post by Jimmy21 » Fri Apr 12, 2019 1:19 pm

goingup wrote:
Fri Apr 12, 2019 9:00 am
I'd encourage you to participate and contribute the maximum you can afford. The automation of 401K contributions from payroll deduction is a stealth way to accrue wealth.

I have never seen a 401K plan that has both a flat monthly fee and quarterly fee. That doesn't sound right. I've also never seen admin fees listed as "apy". I feel as though you're missing some information. Also, the fact that they do have an SP500 fund with an .04 ER leads me to believe the overall plan isn't especially bad. :happy

Brightscope noted that average overall plan fees are now less than 1%, and improving over time. https://blog.brightscope.com/2018/03/15 ... 01k-study/.
They werent listed as apy, i wrote that, which i guess isn't accurate. I finally found the actual fee structure.
10 per quarter, 10 per month, .110004%, fund ER.


Would you guys say this picture is accurate?

https://i.imgur.com/roOuUa3.jpg

ExitStageLeft
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Re: Are my 401k fees ridiculously high?

Post by ExitStageLeft » Fri Apr 12, 2019 4:06 pm

That's not too bad. The reality is that it costs money to administer a retirement plan. The costs are likely pretty constant regardless of how much assets are in the plan.

My wife has $250k in a state retirement plan that charges 0.17% on top of fund ER. That's probably what someone contributing max for ten years would have. Under your plan the fees on a $250k balance are $435 a year, or 0.174%. That's very reasonable for a plan that doesn't have huge participation or assets. It just sucks when the balance is small, but it's far from highway robbery.

dbr
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Re: Are my 401k fees ridiculously high?

Post by dbr » Fri Apr 12, 2019 4:11 pm

Jimmy21 wrote:
Fri Apr 12, 2019 1:19 pm
goingup wrote:
Fri Apr 12, 2019 9:00 am
I'd encourage you to participate and contribute the maximum you can afford. The automation of 401K contributions from payroll deduction is a stealth way to accrue wealth.

I have never seen a 401K plan that has both a flat monthly fee and quarterly fee. That doesn't sound right. I've also never seen admin fees listed as "apy". I feel as though you're missing some information. Also, the fact that they do have an SP500 fund with an .04 ER leads me to believe the overall plan isn't especially bad. :happy

Brightscope noted that average overall plan fees are now less than 1%, and improving over time. https://blog.brightscope.com/2018/03/15 ... 01k-study/.
They werent listed as apy, i wrote that, which i guess isn't accurate. I finally found the actual fee structure.
10 per quarter, 10 per month, .110004%, fund ER.


Would you guys say this picture is accurate?

https://i.imgur.com/roOuUa3.jpg
It is accurate I guess, if you do the arithmetic. Note that the one big, bad thing in there is paying an ER of 0.87% for any fund rather than owning only the 0.04% fund. The investor can control that and it matters what the cost of other choices is. That whole calculation should probably be tossed, but then some investors may be oblivious to why that ER is a problem. The 0.11% cost is probably pretty typical except that many employers pay that as a benefit rather than dinging the employee. I don't understand where the two $10's are coming from but drafting that as a cost against someone who has only $1000 or $5000 in the plan is nonsense. Most any employee who is saving money in any meaningful way should be more at the $50,000 asset level before too long in the plan or at least heading toward it. Even so, if you find out what those two fees are for, they probably shouldn't exist.

Possibly a more significant question is whether or not there is an employer match and if not why not.

bck63
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Re: Are my 401k fees ridiculously high?

Post by bck63 » Fri Apr 12, 2019 4:11 pm

Any thoughts on 0.5% expense ratio and $5 per thousand dollars, per year?

Is that crazy? That's my expenses in my 403(b).

JBTX
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Re: Are my 401k fees ridiculously high?

Post by JBTX » Fri Apr 12, 2019 4:18 pm

What some people here either don't seem to know or talk about is some of these fees are there for the employer to defray administration costs. Some employers choose to eat these costs. Some employers don't. Sometimes the fees may also help offset the employer match.

While there is nothing wrong with having a conversation with HR about fees, it is good to understand in some instances you are saying they should be paying these costs and you shouldn't. If the employer can afford it and is profitable they can deduct the cost, whereas if it is passed to the employee there is no deduction and it erodes the value of the employee investment.

In some small firms with either multiple owners or if owner has large share of 401k it may not be that much more expensive to pay the fee and get the deduction vs passing it on to the 401k and reducing his share of the investments.

dbr
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Re: Are my 401k fees ridiculously high?

Post by dbr » Fri Apr 12, 2019 4:25 pm

bck63 wrote:
Fri Apr 12, 2019 4:11 pm
Any thoughts on 0.5% expense ratio and $5 per thousand dollars, per year?

Is that crazy? That's my expenses in my 403(b).
An ER of 0.5% is way too high. Even retail funds available to anyone at Vanguard, Schwab, Fidelity, etc. can be kept below 0.1% for anything a person needs to hold. $5 per $1000 is 0.50% as an administrative fee. The real cost of an efficient 401k for a large enough plan is probably less than 0.15% and is often paid by the employer as a benefit.

So, yes, I think it is crazy because the tax code driven mechanism to save for retirement should not be allowed to siphon off that high a "tax" on people's assets. In this case the cost is between five and ten times what it should be.

bck63
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Re: Are my 401k fees ridiculously high?

Post by bck63 » Fri Apr 12, 2019 4:30 pm

dbr wrote:
Fri Apr 12, 2019 4:25 pm
bck63 wrote:
Fri Apr 12, 2019 4:11 pm
Any thoughts on 0.5% expense ratio and $5 per thousand dollars, per year?

Is that crazy? That's my expenses in my 403(b).
An ER of 0.5% is way too high. Even retail funds available to anyone at Vanguard, Schwab, Fidelity, etc. can be kept below 0.1% for anything a person needs to hold. $5 per $1000 is 0.50% as an administrative fee. The real cost of an efficient 401k for a large enough plan is probably less than 0.15% and is often paid by the employer as a benefit.

So, yes, I think it is crazy because the tax code driven mechanism to save for retirement should not be allowed to siphon off that high a "tax" on people's assets. In this case the cost is between five and ten times what it should be.
Thank you dbr. I already have the paperwork to rollover to Vanguard. Just need to get it done. Medallion signatures are a pain in the butt.

Trader Joe
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Re: Are my 401k fees ridiculously high?

Post by Trader Joe » Fri Apr 12, 2019 4:53 pm

Jimmy21 wrote:
Thu Apr 11, 2019 6:21 pm
The 401k for our union has fees of

$10 per month
$10 per quarter
.1% apy
.15% apy


Is $160 per year plus .25% really high?
Yes, those fees appear to be abnormally high.

Topic Author
Jimmy21
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Re: Are my 401k fees ridiculously high?

Post by Jimmy21 » Fri Apr 12, 2019 6:09 pm

dbr wrote:
Fri Apr 12, 2019 4:11 pm
Jimmy21 wrote:
Fri Apr 12, 2019 1:19 pm
goingup wrote:
Fri Apr 12, 2019 9:00 am
I'd encourage you to participate and contribute the maximum you can afford. The automation of 401K contributions from payroll deduction is a stealth way to accrue wealth.

I have never seen a 401K plan that has both a flat monthly fee and quarterly fee. That doesn't sound right. I've also never seen admin fees listed as "apy". I feel as though you're missing some information. Also, the fact that they do have an SP500 fund with an .04 ER leads me to believe the overall plan isn't especially bad. :happy

Brightscope noted that average overall plan fees are now less than 1%, and improving over time. https://blog.brightscope.com/2018/03/15 ... 01k-study/.
They werent listed as apy, i wrote that, which i guess isn't accurate. I finally found the actual fee structure.
10 per quarter, 10 per month, .110004%, fund ER.


Would you guys say this picture is accurate?

https://i.imgur.com/roOuUa3.jpg
It is accurate I guess, if you do the arithmetic. Note that the one big, bad thing in there is paying an ER of 0.87% for any fund rather than owning only the 0.04% fund. The investor can control that and it matters what the cost of other choices is. That whole calculation should probably be tossed, but then some investors may be oblivious to why that ER is a problem. The 0.11% cost is probably pretty typical except that many employers pay that as a benefit rather than dinging the employee. I don't understand where the two $10's are coming from but drafting that as a cost against someone who has only $1000 or $5000 in the plan is nonsense. Most any employee who is saving money in any meaningful way should be more at the $50,000 asset level before too long in the plan or at least heading toward it. Even so, if you find out what those two fees are for, they probably shouldn't exist.

Possibly a more significant question is whether or not there is an employer match and if not why not.

I askes and this is the response i got:

The automated third party payments (the $10 per month) are billings from plan attorney, auditor, investment managers, other professional fees.

The participant account maintenance is the recordkeeper fee ($10 per quarter)

Topic Author
Jimmy21
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Re: Are my 401k fees ridiculously high?

Post by Jimmy21 » Fri Apr 12, 2019 6:12 pm

We are able to contribute $1 to $10 per hour. Some people do $10 per hour. I dont see much issue with it. They'll have pretty reasonable fees in a month or two. The problem i have is that the young 18 year olds makin $15 per hour get suckered in to taking out $1 per hour. They have no idea that they are just throwing their money away.

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StormShadow
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Re: Are my 401k fees ridiculously high?

Post by StormShadow » Sat Apr 13, 2019 12:53 am

Jimmy21 wrote:
Thu Apr 11, 2019 6:21 pm
Are my 401k fees ridiculously high?
No, they are not ridiculously high. :oops:

Jim85
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Re: Are my 401k fees ridiculously high?

Post by Jim85 » Sat Apr 13, 2019 7:17 am

My 401k (with Prudential) charges .45% annual record keeping fee charged quarterly. There are some decent Vanguard Target funds in the plan which I used. Just got hit with this fee which is getting significant now. I'm in my 60s and very part time now, but still "employed". Found out I could do an "in-service" rollover to my Vanguard IRA. Awesome. Done.

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