So this is a pretty sad admission. Although I feel pretty savvy about my 401k, HSA, backdoor roths etc I have pretty limited knowledge when it comes to cash balance plans and DB plans
I will be attending one of our group pension meetings soon and I wanted to learn what are good questions to ask.
I don't know who the major players are in the groups CB and DB plans.
Here are some questions I have to get started. Obviously I can't ask some of these without looking like a doofus so I thought I would ask here first
What is a third party administrator? The group that runs the plans charge a 0.25 AUM fee. Is that normal? What other fees are they charging? Where can I find them out? Is there a central document with all the fees? Are they fiduciaries?
The 401k plan these guys have us set up with is american funds which isn't horrible with ER of 0.7 to 0.8. They FA that set up the 401k also have do our CB and DB plans
Anyway. As always appreciate the insight from all you folks.
I will be attending one of our group pension meetings soon and I wanted to learn what are good questions to ask.
I don't know who the major players are in the groups CB and DB plans.
Here are some questions I have to get started. Obviously I can't ask some of these without looking like a doofus so I thought I would ask here first
What is a third party administrator? The group that runs the plans charge a 0.25 AUM fee. Is that normal? What other fees are they charging? Where can I find them out? Is there a central document with all the fees? Are they fiduciaries?
The 401k plan these guys have us set up with is american funds which isn't horrible with ER of 0.7 to 0.8. They FA that set up the 401k also have do our CB and DB plans
Anyway. As always appreciate the insight from all you folks.
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