Hi!
I started a new job three months ago. It's through the IBEW outside construction (Union). I live in CA north bay. With overtime, I hope to make 100k this year. As part of my benefits for every hour, I work $9.50 an hour is put into my NEAP which is a 457 plan. That's kind of amazing, but I can't add any extra money to it. I also would be eligible for two rather small pensions if I work in the Union long enough to become vested.
I max out my IRA every year and I probably have 60k + in retirement savings currently with Vanguard. I'm male, 32 years old, and I have a healthy emergency fund and no debt. I don't own a home or anything significant beyond a car.
I recently figured out that I'm eligible for a 401k with Coast Benefits in San Deigo county. It's some sort of Union umbrella 401k. It's through John Hancock, who I haven't heard good things about. According to Coast Benefits, the total cost/fees of the 401k is 1.5% when there is less than $10,000 in your account and $270 annually when there is more than $10,000 in your account. That's far more expensive than I'd like it to be, but I'm inclined to do it anyway and try and max it out. The tax savings seem worth it. Any thoughts? Concerns? Experiences with something similar?