how to calculate plan admin fees [Help with retirement plan]

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Syner01
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how to calculate plan admin fees [Help with retirement plan]

Post by Syner01 »

new here. 1st post. question: how do you calculate the fees for your plan administrator? not sure how to calculate and compare fees. typical 401k/403b accounts through employer. are there admin fees, plan servicing fees, and the actual fund fees/costs? how to compare between 2 plan admins. is there any website online to compare or it's different/individualized per plan.
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Syner01
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plan was sold to new admin

Post by Syner01 »

[Thread merged into here --admin LadyGeek]

our plan admin sold off to a new administrator. they basically just SSO you into the new plan admin website after logging into the old one. would this be cause for alarm if it were you? the new plan admin is Brighthouse and it is a 403b sold as a variable annuity.
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Re: plan was sold to new admin

Post by jebmke »

No; although I would probably reset my log in credentials with the new admin.
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Syner01
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Re: plan was sold to new admin

Post by Syner01 »

i did when the changed happened. thank you for advising this though.
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David Jay
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Re: how to calculate plan admin fees

Post by David Jay »

Welcome to the forum!

Each plan is unique, your employer is required to make the “summary plan description” (SPD) available to you, that should answers most fee questions. It may also answer the question about loan effect on rollovers.

There should be a separate document listing the expense ratio (ER) of each fund
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retired@50
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Re: how to calculate plan admin fees

Post by retired@50 »

In addition to reading the summary plan description, as David Jay mentions above, you can review your statements or online transaction history.

Keep an eye out for negative transactions. Sometimes these fees are levied monthly, quarterly, or annually.

You can also check the dollar amounts of each of the periodic purchases for "full value". Sometimes, a small percentage is taken right off the top, before you invest. So, if you were expecting to buy $100 of a particular fund, and the periodic purchase is only $95 or $98, then you know you're being charged a sales load.

Regards,
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dbr
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Re: how to calculate plan admin fees

Post by dbr »

The advice above is good. It is also possible your employer covers all the plan fees outside the fund ERs. My 401k has zero fees.

Another document you can look up is the IRS Form 5500 for your plan.
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retired@50
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Re: how to calculate plan admin fees

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dbr wrote: Mon Jun 10, 2024 9:51 am Another document you can look up is the IRS Form 5500 for your plan.
If you want to search for your plan document, start here: https://www.efast.dol.gov/5500search/

I've read one or two of these filing documents. They can be illuminating.

Regards,
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Re: how to calculate plan admin fees [Help with retirement plan]

Post by LadyGeek »

Syner01 - In order to provide appropriate advice, it's best to keep all the information in one spot. I merged your update back into the original thread. If you have any questions, ask them here.

(Thanks to the member who reported the post and provided a link to this thread.)
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student
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Re: how to calculate plan admin fees

Post by student »

retired@50 wrote: Mon Jun 10, 2024 9:38 am In addition to reading the summary plan description, as David Jay mentions above, you can review your statements or online transaction history.

Keep an eye out for negative transactions. Sometimes these fees are levied monthly, quarterly, or annually.

You can also check the dollar amounts of each of the periodic purchases for "full value". Sometimes, a small percentage is taken right off the top, before you invest. So, if you were expecting to buy $100 of a particular fund, and the periodic purchase is only $95 or $98, then you know you're being charged a sales load.

Regards,
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Syner01
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Re: how to calculate plan admin fees [Help with retirement plan]

Post by Syner01 »

thank you all. i am going to go through all the statements for the above and see what pops up.
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Syner01
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Re: how to calculate plan admin fees [Help with retirement plan]

Post by Syner01 »

thank you all. i am going to go through all the statements for the above and see what pops up.
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