The Money Mustache Community
Learning, Sharing, and Teaching => Investor Alley => Topic started by: TheThirstyStag on March 05, 2015, 03:34:07 PM
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Hi all,
My employer only offers TIAA-CREF as the investment carrier for our 403(b) plan, along with their >0.4% expense ratios. I have an opportunity to put forth a proposal to request that my employer offer Vanguard (or possibly Fidelity) as a second carrier. What are the implications for an employer to do this? Are there any financial implications, or is it entirely about training their HR staff to handle a second option?
On a related note, we only have FSAs through our employer and one, low-deductible PPO health plan. How would I go about making an analogous argument for them to offer a HSA?
I'm certainly privy to the mustachian advantages to having these savings options. I have no clue what the employer end looks like, and need to understand it in order to make a solid argument.
Thanks in advance!
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I have no idea. There is normally an admin, record keeping, etc.
I can say that Vanguard probably has staff that specialize in this sort of the thing though. I would just call and say you have questions about setting up a 403b. Ask what the process normally looks like and see if you can get any brochures and stuff.
For the HSA. Well you do have to have a high deductible plan as an option in order to have an HSA.
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I figured as much for the HSA.
Does anyone have any experience on the hr/benefits side of this? I'm really looking to get a handle on the fees associated with an addition like this.