Retired laid off former employee here. Yesterday I received an email announcing changes to the 401k plan. In short, the plan is going to be more expensive for participants starting next month. Was there any internal communication about why the changes are happening?
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@vg me too
I am glad I rolled my 401 k into an ira account
@at OP here. Up until the recent changes the 401k offerings were dirt cheap if you went with the Index Fund offerings. Earlier this week I rolled the 401k into a Fidelity IRA. Fidelity made the process very easy, and USB made it an easy decision.
The only thing left to do is to sell the USB shares that Richard Davis granted to all employees back around 2016, and then I'll be totally clear of USB.
Good luck to you all, and go find yourselves a better employer and a better job.
Don’t ever leave money behind take it with you and roll it over elsewhere.
I left a few months ago, first thing I did was roll out of that plan, the investment options are horrible, and more expensive than an IRA.
They lay me off I'm taking it all out!! They are not even going to have a banking account with my name on it!! Heard to much crazy talk about people banking accounts becoming haywire due to not being an employee anymore.
Thanks--until now, didn't realize I wasn't getting a "fully replicated" set of email at my USB address in addition to one of my personal ones. What can I say--I get so much spam, I don't check my email unless I'm expecting a specific email anymore.
@ac In short, the employees are subsidizing the Fidelity card contract through our 401K fees.
Roll your 401 to a new financial advisor
No tax issues
Why would you leave it with the bank- like you can trust the bank?
MS-Copilot Summary:
⭐ High‑Level Summary (One‑Sentence Version)
Your 401(k) is getting a new bond fund, lower record‑keeping fees, and lower advisory fees if you use Fidelity Personalized Planning & Advice.
@OP saw that too. Thankfully I opened brokeragelink account through 401k plan at fidelity. Basically it’s under same umbrella as 401k is for tax benefits, contributions, match etc but I’m able to invest in 8000+ funds instead of the garb 17 that usb offers - which have gotten more expensive.