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401K Trust Company of America
Old 04-24-2007, 12:15 AM   #1
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401K Trust Company of America

I have a small corporation and we started this 401k a few years ago. I've been doing some research and it seems OK, but I thought I'd tap into the brain trust here on ER and see what you guys think. Have you heard of them?
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Re: 401K Trust Company of America
Old 04-24-2007, 01:33 PM   #2
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Re: 401K Trust Company of America

Sure

TCA is a big back office, clearing, transfer agent and trust company.

They are a large firm and people are generally pretty happy with them. As long as you are happy with the fees I can't see anything to change.

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Re: 401K Trust Company of America
Old 04-24-2007, 06:05 PM   #3
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Re: 401K Trust Company of America

Thanks. Yes their fees are fine. With more research I am finding that the 3rd party administrator is raping us with charges. 1.75 a year for each of us. I found another thru Vanguard that only charges .25.
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Re: 401K Trust Company of America
Old 04-24-2007, 07:30 PM   #4
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Re: 401K Trust Company of America

av8r, PM me if you don't mind. I'd like to compare fees for our TPA with yours. We just started our 401k, and I've become the plan administrator. So I wanna know how our plan compares (or if I'll be changing it out in 2008!)
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Re: 401K Trust Company of America
Old 04-25-2007, 06:14 AM   #5
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Re: 401K Trust Company of America

Quote:
Originally Posted by av8r
Thanks. Yes their fees are fine. With more research I am finding that the 3rd party administrator is raping us with charges. 1.75 a year for each of us. I found another thru Vanguard that only charges .25.
Depending on how many employees you have 1.75 per year could be really good. I've seen plans that charge in excess of $25.00 per employee per year.

Also, what is the base fee on that Vanguard plan? I find it very hard to believe a TPA would do a plan for $.25 per employee.

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Re: 401K Trust Company of America
Old 04-25-2007, 10:50 AM   #6
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Re: 401K Trust Company of America

Quote:
Originally Posted by saluki9
Depending on how many employees you have 1.75 per year could be really good. I've seen plans that charge in excess of $25.00 per employee per year.

Also, what is the base fee on that Vanguard plan? I find it very hard to believe a TPA would do a plan for $.25 per employee.

I read it as BPs, not $$$s
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Re: 401K Trust Company of America
Old 04-25-2007, 11:23 AM   #7
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Re: 401K Trust Company of America

Quote:
Originally Posted by Texas Proud
I read it as BPs, not $$$s
HUH?

A TPA charging an AUM fee? That is total crap.

The T stand fors Third Party. They should be exactly that and get paid a flat fee for testing, 5500, etc + a per participant fee that usually runs from $30 down to $3-5 for very large plans.

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Re: 401K Trust Company of America
Old 04-25-2007, 05:00 PM   #8
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Re: 401K Trust Company of America

OK. I'm learning as I post. I believe the 1.75 BP is being charged by the broker that setup the plan. It's actually .50 from a company called Symmetry Partners, and 1.25 to the broker. I'm not sure who the TPA is. We get our statements from Symmetry, but they don't call themselves a TPA.

I'm in talks with an agent at Vanguard and will likely be moving the 401k there. I have a call into the broker to get what info I can. It's likely he will not be too happy with my plans.
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