The Money Mustache Community
Learning, Sharing, and Teaching => Investor Alley => Topic started by: savedandsaving on January 07, 2022, 02:04:31 PM
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My small employer just switched from outsourcing HR with Insperity to a company called "Engage PEO." My Insperity 401k is apparently going to roll over to Engage's 401k administrator, "Slavic401k," in mid-Feb. Anyone have any experience with either of these companies? The only info I was able to find online about Slavic is this: https://reviews.birdeye.com/slavic401k-157317430837539 which isn't too encouraging. What should I be looking for in Slavic that assures me it's a trustworthy institution?
Additional info that doesn't really matter: my employer matches 100% of 3% and 50% of an additional 2%, so I've always contributed over 5% to take full advantage (I average around 8-10% and want to throw in much more; my husband and I currently contribute most savings to a taxable brokerage account for our main FIRE stash.) My employer's 401k fund fees have always been low enough to make the match attractive, and as long as they stay that way, I still plan to contribute 5%. However, this year I know husband & I need to double down on our tax-advantaged strategy, so we each plan to open up individual IRAs and funnel money there. Basically, I'm trying to determine how much I should trust Slavic to decide on exactly what percentage should go to them - if Slavic seems sketchy, I'll just contribute the minimum 5% and increase contributions to all other accounts.
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A previous employer of mine used Slavic. I didn't experience anything shady. It's true, their website is atrocious, the CEO of Slavic does email you silly "stay invested!" emails every time the market dips, etc. But, if memory serves: the admin fees were reasonable and they had Vanguard index funds as options.
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But, if memory serves: the admin fees were reasonable and they had Vanguard index funds as options.
Wonderful, thanks for replying. I can deal with silly emails as long as they don't do anything silly with my money. :)
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I also had an employer that used Slavic and never had any issues. The website and reporting are subpar but they work. The deposits take a little longer than I would have liked to show up (a matter of days), but I don't have any reason to believe that anything shady is going on. I also recall that the employer had the option to cover some fees on behalf of the employee or leave them to the employee to cover, so something to keep in mind. Good luck!
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I also had an employer that used Slavic and never had any issues. The website and reporting are subpar but they work. The deposits take a little longer than I would have liked to show up (a matter of days), but I don't have any reason to believe that anything shady is going on. I also recall that the employer had the option to cover some fees on behalf of the employee or leave them to the employee to cover, so something to keep in mind. Good luck!
Thanks! Sounds like I just need to wait and see the fees I'm working with.