Author Topic: 403(b) Question  (Read 1101 times)

coppertop

  • Bristles
  • ***
  • Posts: 334
403(b) Question
« on: February 26, 2015, 09:44:40 AM »
My husband works for a hospital and contributes 30% of his salary to the 403(b) plan there.  We are constantly getting mailings - prospectuses and confirmations that his account was "rebalanced."  It's hard to keep track of anything because it's constantly changing.  On the other hand, I have a 401(k) at work - I chose all of the funds and nothing changes unless I order it. 

Is all of that rebalancing generally necessary, or is this the plan administrator's way of creating more money for itself?  I am wondering if we create a password to go on line to his account, if we will find we can change the way his account is handled to be more the way mine is - choosing funds for ourselves.  Does anyone have experience with this kind of plan?  Thanks.

dunhamjr

  • Stubble
  • **
  • Posts: 241
  • Age: 45
  • Location: Kent, WA (Seattle)
  • mustachian in training est. July 14
Re: 403(b) Question
« Reply #1 on: February 26, 2015, 10:01:11 AM »
i get prospectus emails all the time.
i setup and get emails about rebalancing twice per year.
and i have a 401k.

it really depends on the 401k/403b provider.  or what notifications you 'asked' for when you setup the account.  some of it could be fluff to boost the bottom line.

but the only way to know, is to once and for all, sort through the info to see whats what and get into that online account to check things out.
« Last Edit: February 26, 2015, 02:24:33 PM by dunhamjr »

MDM

  • Senior Mustachian
  • ********
  • Posts: 10352
Re: 403(b) Question
« Reply #2 on: February 26, 2015, 10:53:16 AM »
Is all of that rebalancing generally necessary, or is this the plan administrator's way of creating more money for itself?  I am wondering if we create a password to go on line to his account, if we will find we can change the way his account is handled to be more the way mine is - choosing funds for ourselves.  Does anyone have experience with this kind of plan?  Thanks.
Exactly what are his investments in the 403b?  Need to know that before speculating on anything else.

Yes, getting access so you can see and understand the details is an excellent idea.