New 401k app blows

[MattM]

The fees are weird. I thought for awhile when I first got going when it was mere hundreds that the fees would be a percentage. But it seems generically set for us

$1.71 plan administration expense
$0.10 third party expense

So no matter if you have $50 dollars invested or $50,000, the monthly fees appear to be the same.

One could also look at the fund documents to see what the fees are. For s&p 500, we see the following:
0.50 bps investment fees
0.25 bps custody fees

0.5 translates to about 0.5%

For other funds such as reit, it shows fees at 3.0 bps and 0.28.

My guess is these somehow are hidden within your gains/losses because I’m simply not seeing where these varying amounts are being charged on your account. All I see are those two generic set fees as fees.

 

[ManInBrown]

The fees are weird. I thought for awhile when I first got going when it was mere hundreds that the fees would be a percentage. But it seems generically set for us

$1.71 plan administration expense
$0.10 third party expense

So no matter if you have $50 dollars invested or $50,000, the monthly fees appear to be the same.

One could also look at the fund documents to see what the fees are. For s&p 500, we see the following:
0.50 bps investment fees
0.25 bps custody fees

0.5 translates to about 0.5%

For other funds such as reit, it shows fees at 3.0 bps and 0.28.

My guess is these somehow are hidden within your gains/losses because I’m simply not seeing where these varying amounts are being charged on your account. All I see are those two generic set fees as fees.

Interesting. How can they not clearly show what the fees are? Agree, $1.81 doesn’t seem possible.

 

[IVE GOTTA PACKAGE 4U]

Interesting. How can they not clearly show what the fees are? Agree, $1.81 doesn’t seem possible.

Give them a call and find out when it's all know!!

 

[Pickles]

 

[ManInBrown]

Give them a call and find out when it's all know!!

I did the grunt work gents. Thank me later. The fees you see listed on your account every month is what you’re being charged. I’m charged $1.81 monthly based on what I’m invested in. The only other fee is a $12.50 quarterly administration fee. $50 yearly. There are no other hidden charges. Shockingly surprised.

The representative said UPS foots the bill and the way they make some of their money back is in withdrawal fees.

 

[IVE GOTTA PACKAGE 4U]

I did the grunt work gents. Thank me later. The fees you see listed on your account every month is what you’re being charged. I’m charged $1.81 monthly based on what I’m invested in. The only other fee is a $12.50 quarterly administration fee. $50 yearly. There are no other hidden charges. Shockingly surprised.

The representative said UPS foots the bill and the way they make some of their money back is in withdrawal fees.

Thank you

 

[Thebrownblob]

I did the grunt work gents. Thank me later. The fees you see listed on your account every month is what you’re being charged. I’m charged $1.81 monthly based on what I’m invested in. The only other fee is a $12.50 quarterly administration fee. $50 yearly. There are no other hidden charges. Shockingly surprised.

The representative said UPS foots the bill and the way they make some of their money back is in withdrawal fees.

About what their new app is worth

 

[MattM]

I did the grunt work gents. Thank me later. The fees you see listed on your account every month is what you’re being charged. I’m charged $1.81 monthly based on what I’m invested in. The only other fee is a $12.50 quarterly administration fee. $50 yearly. There are no other hidden charges. Shockingly surprised.

The representative said UPS foots the bill and the way they make some of their money back is in withdrawal fees.

Thanks

Where are these other fees at? I’ve never seen any other fees explicitly listed on any statement. I’m talking the $12.50 quarterly admin fee.

I’ve only ever seen the $1.50-$2.10 monthly fee.

Maybe it hits upon retirement?

 

[ManInBrown]

Where are these other fees at? I’ve never seen any other fees explicitly listed on any statement. I’m talking the $12.50 quarterly admin fee.



Maybe it hits upon retirement?

Great point, no idea. The person I spoke to definitely knew what they were talking about. They had to connect me to a special department and this person had to dig deep to get this info. Sounded like he was reading from a manual of our 401k. You’re right though, where does the $12.50 quarterly show. No idea. I Should’ve asked.