My company has a 401k program. Currently it is through (I believe) Bisys and Merrill Lynch. I have been very vocal in complaining about it within the company. [most funds have an average of 1.5% expense ratios, including "closet" index funds]
Well, apparently they are interviewing new recordkeepers and trying to get less expensive funds. My complaining paid off, combined with the fact that we have grown to 300 employees to give us more bargaining power.
Management has narrowed it down to 4 providers, and I will be sitting in the presentation of the 4 choices.
My main goal is to get as low cost funds as possible (hoping at least to get some index funds as well) and the most variety in the fund choices to cover as many asset classes as possible.
I'm coming at this as an employee investing in the funds, but I would like to be more diligent on how to make the best choice for the whole company.
Has anyone gone through this before? And if so, did you have any sort of "checklist" of questions that I could use to compare apples to apples?
If you made the choice for your company, what was the deciding factor? I have read past posts and many people have mentioned their happiness with Fidelity as a provider, so I am hoping that is one of the narrowed down choices.
Any help anyone can provide is most appreciated.
Well, apparently they are interviewing new recordkeepers and trying to get less expensive funds. My complaining paid off, combined with the fact that we have grown to 300 employees to give us more bargaining power.
Management has narrowed it down to 4 providers, and I will be sitting in the presentation of the 4 choices.
My main goal is to get as low cost funds as possible (hoping at least to get some index funds as well) and the most variety in the fund choices to cover as many asset classes as possible.
I'm coming at this as an employee investing in the funds, but I would like to be more diligent on how to make the best choice for the whole company.
Has anyone gone through this before? And if so, did you have any sort of "checklist" of questions that I could use to compare apples to apples?
If you made the choice for your company, what was the deciding factor? I have read past posts and many people have mentioned their happiness with Fidelity as a provider, so I am hoping that is one of the narrowed down choices.
Any help anyone can provide is most appreciated.