Fuh Doo She Airy?

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justj2k78
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Fuh Doo She Airy?

Post by justj2k78 » Wed Jul 21, 2010 11:01 pm

My employer has traditionally supplied us with some pretty terrible 403(b) options...

Now they've called upon a consulting firm to spruce up our options, and overall package... is it a sign of aging that this excites me?

An index fund would be a nice place to start.

555
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Post by 555 » Thu Jul 22, 2010 2:36 am

Our plan at work got much worse after the involvement of a "consulting firm" http://en.wikipedia.org/wiki/Mercer_%28 ... ng_firm%29

As far as I can see, the use of a "consulting firm" is just to provide a facade of legitimacy.

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gasman
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Post by gasman » Thu Jul 22, 2010 6:35 am

555 wrote:Our plan at work got much worse after the involvement of a "consulting firm" http://en.wikipedia.org/wiki/Mercer_%28 ... ng_firm%29

As far as I can see, the use of a "consulting firm" is just to provide a facade of legitimacy.
:thumbsup My last job- also at a nonprofit, after the urging by several people, 2 vanguard funds and a few other companies funds were added to the mix of variable annuities. THE CATCH- there was an additional 1% administrative annual fee.

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justj2k78
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Post by justj2k78 » Thu Jul 22, 2010 8:04 pm

The hospital I work at is working with Westminster Consulting... fingers crossed.

Right now I'm stuck in a ING Solution TR fund that carries a 1.08 ER. Blech. Not a single index option. Luckily they've moved on past the VA days, though some people still remain in a VA (grandfathered in).

I do feel like the people who run this mean well... I just think they're clueless. I hope the consulting firm is legit.

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Post by Alex Frakt » Thu Jul 22, 2010 9:35 pm

justj2k78 wrote:The hospital I work at is working with Westminster Consulting... fingers crossed.
From their website
Westminster Consulting provides fee-only, independent consulting services to the fiduciaries of qualified plan and their plan committees.
[emphasis added] That's a promising sign.

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justj2k78
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Post by justj2k78 » Thu Jul 22, 2010 10:09 pm

Alex Frakt wrote:
justj2k78 wrote:The hospital I work at is working with Westminster Consulting... fingers crossed.
From their website
Westminster Consulting provides fee-only, independent consulting services to the fiduciaries of qualified plan and their plan committees.
[emphasis added] That's a promising sign.
They certainly do play up the fiduciary responsibility if you go digging around their site, but... you never know what is window dressing!

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