401k

[HAULIN3]

I looked at our statements on our 401k from 12/1/05 to today, our account was charged $9,017.87 in fees & expenses.  This seems really really bad...

[matchewed]

This is meaningless without balances, what funds, the various fees structured for each fund (expense ratio, front loaded...etc.). Out of context numbers don't seem bad, they just seem like numbers.

[Unionville]

I just fell out of my chair.

[MooseOutFront]

I bet your balances are high though!

Possibly high enough that it's worth finding a new job so you can roll this thing over to a IRA and slash the fees to less than 0.20% from whatever they are now.

[nawhite]

This is meaningless without balances, what funds, the various fees structured for each fund (expense ratio, front loaded...etc.). Out of context numbers don't seem bad, they just seem like numbers.

I like to believe that Haulin3 has $1 million in the 401k. So at $1100/year that makes for the expense ratio of 0.11%. Sounds about right to me ;-)

[matchewed]

This is meaningless without balances, what funds, the various fees structured for each fund (expense ratio, front loaded...etc.). Out of context numbers don't seem bad, they just seem like numbers.

I like to believe that Haulin3 has $1 million in the 401k. So at $1100/year that makes for the expense ratio of 0.11%. Sounds about right to me ;-)

http://www.sec.gov/investor/tools/mfcc/holding-period.htm

Play around with it. It is rather easy with average returns and an initial portfolio of $130k with a .77% yield to hit 12k in fees over the course of 9 years. That's with no front or back loaded fees.

Like I said context is everything.

[soccerluvof4]

yikes!

[dude]

Exactly -- ALL 401ks have fees; it costs money to run them -- but the whole number means nothing, it's the percentage that matters.  If the fund manager is only skimming .027% (i.e., $0.27 per $1,000, like mine does), well, that's just fine.  If, on the other hand, they're skimming 1.5%, then you're getting robbed.