Author Topic: Who's being offered the most expensive S&P 500 fund at work???  (Read 3267 times)

Lobo

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I'll go first.....I am currently being charged 0.42 ER for the S&P 500 fund in my 457 plan.  I personally think this is outrageous!  Is anyone paying more than 0.42 - I would appreciate any responses.

surfhb

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Re: Who's being offered the most expensive S&P 500 fund at work???
« Reply #1 on: July 28, 2017, 06:38:57 PM »
Great Thread!

.70 for the S&P Index Fund.   Some are 1.63 at my work.   

enginerd1986

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Re: Who's being offered the most expensive S&P 500 fund at work???
« Reply #2 on: July 28, 2017, 06:39:16 PM »
I'll one-up you...I pay 1.25% to participate in our 457 plan and pay .60 ER on top of that for S&P 500 Index.

Edit: I've been beaten.

BiggerFishToFI

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Re: Who's being offered the most expensive S&P 500 fund at work???
« Reply #3 on: July 28, 2017, 06:47:16 PM »
No option for S&P 500 or any index fund (American Funds). Paying 1.5% for a target retirement date fund :(

I am in the process of trying to convince the owners to switch. I work for a very small company ~10 people. If anybody else works for a small company and has a low expense plan let me know who it is through!
« Last Edit: July 28, 2017, 06:48:47 PM by soontoberich »

LalsConstant

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Re: Who's being offered the most expensive S&P 500 fund at work???
« Reply #4 on: July 28, 2017, 06:53:31 PM »
One of the saving graces of my 401k is I get VTSAX with its paltry expense ratio rebated.

However they also charge me a ridiculous monthly "account fee", I'd have to have a couple hundred grand in VTSAX to see any net benefit here.  I'd be better off investing directly with Vanguard until I reach a crossover point that won't happen for over a decade.

FiguringItOut

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Re: Who's being offered the most expensive S&P 500 fund at work???
« Reply #5 on: July 28, 2017, 10:20:46 PM »
I'm charged 0.56 ER for S&P fund in my 401K plus about $1/month in fees.  No match either.

My work benefits suck all around including medical and vacation policy.

Lobo

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Re: Who's being offered the most expensive S&P 500 fund at work???
« Reply #6 on: July 28, 2017, 10:45:44 PM »
What really pisses me off is that previously I had the Vanguard Institutional Index - the lowest cost S&P 500 fund Vanguard offers.  Then some GENIUS managing our plan decided to replace it with this new S&P fund at 15 times the cost - SERIOUSLY!!!   I don't even know what to say about that.

czr

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Re: Who's being offered the most expensive S&P 500 fund at work???
« Reply #7 on: July 29, 2017, 03:29:51 AM »


What really pisses me off is that previously I had the Vanguard Institutional Index - the lowest cost S&P 500 fund Vanguard offers.  Then some GENIUS managing our plan decided to replace it with this new S&P fund at 15 times the cost - SERIOUSLY!!!   I don't even know what to say about that.

Since it is not the company's money, they don't have a financial incentive to find the lowest plan. You should speak up and ask about it. Bring it up at the Q&A of the company meeting or directly to the hr guy in charge of selecting the plan.

RobFIRE

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Re: Who's being offered the most expensive S&P 500 fund at work???
« Reply #8 on: July 29, 2017, 05:10:25 AM »
I'm in the UK. For company pension we have index funds in the range of 0.45% to 0.75%, no account fees. Last year following some changes to government legislation the provider had to get rid of some of their funds that cost more than 0.75%, and move everybody into 0.75%. I chose some 0.45% instead (by comparison in my own pension I have access to Vanguard trackers etc. and have one at 0.22%). While I would prefer that the provider offered some cheaper trackers, the provider is a fund management company so I'm hardly surprised they want to sell their "actively managed" funds etc. What I do find poor is that our salaries are paid monthly on 25th but the pension money doesn't get invested until between 6th and 15th of next month, with no explanation as to why there is sometimes a 10 day variance, nor why it takes at least 10 days each time anyway.

kayvent

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Re: Who's being offered the most expensive S&P 500 fund at work???
« Reply #9 on: July 29, 2017, 05:12:23 AM »
Mine is pretty competitiive in Canada at 2.1%.

CupcakeGuru

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Re: Who's being offered the most expensive S&P 500 fund at work???
« Reply #10 on: July 29, 2017, 06:02:48 AM »
My DH pays .56%. Some of the funds go to 1.32%! Outrageous.

YttriumNitrate

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Re: Who's being offered the most expensive S&P 500 fund at work???
« Reply #11 on: July 29, 2017, 06:19:46 AM »
When my company was looking for 401k plans last year, one the owner's buddies pitched a plan with a 1.0% management fee, a 1.0% "guidance fee", and the underlying expense ratios of the funds. Luckily, we did not go with that plan.

I am in the process of trying to convince the owners to switch. I work for a very small company ~10 people. If anybody else works for a small company and has a low expense plan let me know who it is through!

Vanguard (managed by Acensus) and Employee Fiduciary were the least expensive 401k plans I found. In general, Vanguard is a bit more expensive at first, but once your plan passes a million dollars in assets it will be less expensive that Employee Fiduciary. My company ended up going with Vanguard.

Also, since you are at a small company, you will likely end up being the 401k manager since that typically goes to the person most interested in finance (or the person who complains the most about the crappy 401k options). It's not a lot of work, but there is a bit of paperwork.

Michael in ABQ

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Re: Who's being offered the most expensive S&P 500 fund at work???
« Reply #12 on: July 29, 2017, 07:20:00 AM »
I feel lucky I'm at the other end of the spectrum, 3 basis points for my 401k and 3.8 basis points for my Thrift Savings Plan (federal 401k for military/government workers).

The regular funds in my 401k range from 0.50% to 1.23%, though the target date funds are Vanguard and only 0.08%.

Our company just announced our 401k is moving from Merrill Lynch to Fidelity so hopefully the choices there are similar or better. When I started our 401k was with Vanguard which I thought had better/cheaper options.

Luck12

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Re: Who's being offered the most expensive S&P 500 fund at work???
« Reply #13 on: July 29, 2017, 09:29:27 AM »
What really pisses me off is that previously I had the Vanguard Institutional Index - the lowest cost S&P 500 fund Vanguard offers.  Then some GENIUS managing our plan decided to replace it with this new S&P fund at 15 times the cost - SERIOUSLY!!!   I don't even know what to say about that.

Someone in HR or the CEO is probably buddies with a guy who runs that high cost plan and/or is getting kickbacks.   Fucking scumbags.


scottish

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Re: Who's being offered the most expensive S&P 500 fund at work???
« Reply #14 on: July 29, 2017, 04:49:37 PM »
0.69% in the Sunlife Blackrock US Equity Index Reg.   

TomTX

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Re: Who's being offered the most expensive S&P 500 fund at work???
« Reply #15 on: July 30, 2017, 05:17:28 AM »
No option for S&P 500 or any index fund (American Funds). Paying 1.5% for a target retirement date fund :(

I am in the process of trying to convince the owners to switch. I work for a very small company ~10 people. If anybody else works for a small company and has a low expense plan let me know who it is through!

Years ago, the small business I worked for (4 employees, including the owner) had no retirement plan. After talking about it with the owner, I set up a Simple IRA plan at Vanguard. The cost was $20 per account per year to run the plan, basic Vanguard expenses after that.

 

Wow, a phone plan for fifteen bucks!