Anyone with Mass Mutual 401K experience?

[rayt168]

My employer recently changed 401K providers from Wells Fargo to Mass Mutual.  I didn't have any particular issue with Wells Fargo.  However, in the first week after the blackout period, I have NOT been particular impressed with Mass Mutual.  The investment selection is nothing to brag about.  They do offer some index funds with relatively low index funds.  I am not particular impressed with its website or their customer service.  I would like to hear anyone else's experiences, good or bad.  Besides leaving the company outright, does anyone know of any options on transferring the assets in the account to my personal IRA?  I did checked with HR and they say I can move the money when I turn 59.5.  I turn 54 this year.  I am ready to FIRE and I am just awaiting how ACA repeal plays out.  Thanks in advance.

[Hargrove]

I think you can only rollover if you close the 401k. Otherwise, nobody would pay the ridiculous 401k fees, or would just keep very little balance.

Believe it or not, we just switched from Mass Mutual to the much hated John Hancock. While John Hancock does suck, Mass Mutual was actually much worse. There were high cash balances in every investment option AND fees of over 1% on most of them, BEFORE the 401k "admin" fee (the hundreds of thousands they take every year for having put up a website).

[Car Jack]

I had mass mutual at my last job, about a year ago.  The lowest ER fund was a bond index at 0.49% and that's where all my contributions went.  No company match.  The website is certainly not great but it's possible to form a list with ERs to see what's what.  Besides that, what do you need?  It was rolled out to Fidelity in about 6 miliseconds upon leaving the company.  If you're not there forever or can do an inservice rollover at 59 1/2 (I could have), then just consider it as tax advantaged space and don't worry about it.

[Hargrove]

It's not all about ERs. Always look for how much a "fund" holds in cash. Sometimes it's like 7% of your investment.

[rayt168]

I had mass mutual at my last job, about a year ago.  The lowest ER fund was a bond index at 0.49% and that's where all my contributions went.  No company match.  The website is certainly not great but it's possible to form a list with ERs to see what's what.  Besides that, what do you need?  It was rolled out to Fidelity in about 6 miliseconds upon leaving the company.  If you're not there forever or can do an inservice rollover at 59 1/2 (I could have), then just consider it as tax advantaged space and don't worry about it.

In terms of your 401K rollover to Fidelity, how painful was it?  I assume there was paperwork to be filled out and these forms had to be mailed into Mass Mutual.  Was the rollover of the funds done electronically or did Mass Mutual mailed a check to you?  I am hoping to FIRE within the next couple of years or in a worse case scenario, find another job so that I can rollover my 401K into my IRA.  Thanks in advance.