I did my homework. Found the fees paid to conduent (it took me a while to hunt them down) and the new ones in the Voya prospectus. For my own mix I will actually see a .0003% DECREASE annually (which is peanuts for sure). Everyone needs to do their homework. The sky is not falling. And neither of these is great per benchmark but it wasn’t great to begin
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Xerox is a flaming dumpsterfire travelling toward a cliff at 95 MPH.
You fools from the Big X are completely clueless. VOYA is a great investment company and their fees are competitive to TD Ameritrade. I retired years ago and left my 401k at Xerox because the fees are low. Don’t worry...the Big X is always looking out for their employees.
Was kind of hoping to see another response by OP & friend making a fool of themselves this is the funniest thread I've seen on the Xerox board in a while. Guess it's back to benefit reductions and talk of days gone by.
This thread now has 20 posts too which is more than the usual number of replies so it's doubly fake. Plus as of this writing there have been 1947 views which is the same number as the year of the Roswell incident so now we have doomsday preppers, hackers, and aliens to worry about. Don't vote on my comment too much we need the truth to get out!
Stop the count!!! Lol
Why didn't anyone tell me about the voting rules? I upvoted a post a month ago about someone increasing their comp by leaving Xerox and now it has over 15 positive votes. Guess that means it's not real...
"26 people disagreed with me!? That can't be right!! FAKE NEWS!!!"
Apparently making up increasingly wild excuses for a failed argument counts as a hobby? I know that learning something new and useful is painful for you but I'd suggest taking up some light reading in statistics, specifically standard deviation and outliers. Just because a number is larger than the average doesn't mean it isn't real. Or you can keep plugging your ears and screaming "I'M NOT MAD YOU'RE MAD!" until it eventually becomes true. Remember to breath while doing this we wouldn't want you to pass out.
@aloy+18P7LoNK It took me less than five minutes to find several other posts with >15 vote counts within the last few weeks. Heck the sinking ship thread is already at +18 and has only been up 4 days. Since you seem to be struggling on that homework of yours 4 is less than half of 9 which is the number of days the posts with >15 votes in this thread have been up. But if it helps your fragile ego then sure it must be voter fraud from doomsday sayers. It can't possibly be that so many people can see you're wrong after all you've raised such a compelling and not at all flawed case. When that doomsday excuse doesn't pan out maybe you can try to blame hackers. It's all a deep state conspiracy!
It is very funny to me that there is at least one guy here who is probably one of the perpetual doomsayer ragers that cares enough about votes to manipulate them.
Posts will get like, at max, 10-15 votes after weeks of being up, but when someone gets REALLY MAD that someone wasn't as mad about xerox as them, suddenly there's +26, -23, -23, -19, +19 in a couple hours.
Let's talk about getting hobbies, people.
Does anyone else appreciate the irony of someone making a hysterical post complaining about other people supposedly being hysterical over nothing when the other people weren't being hysterical at all? It's a .0003% DECREASE come on do your homework!
I like how now that the OP's postings have thoroughly called out for sheer idiocy the OP doesn't even try to make a counterpoint, likely because they can't, so instead they're resorting to a "nah bro you made like so many assumptions that wasn't me and you're totally wrong". Now maybe take the advice of @1slv+18P7LoNK and step away from the internet use for a while. Or don't and keep the entertainment going I haven't had this good a laugh at someone's expense since I last worked at Xerox.
@7lhz+18P7LoNK Dude you assume a lot. I am the original poster. Haven’t seen this thread in days and you assume I wrote all those replies. Good job telling yourself stories.
Coming to this page for the first time and I have to ask, even if the OP's statements are correct what exactly is their point? I think the one poster disagreeing with them was a bit harsh but otherwise have to agree with the other posters assessments. It seems that the OP is so determined to be right about this one minor, particular issue that they're missing the much larger picture. It's like being on a sinking ship taking water from breaches on all sides and arguing about whether one specific hole in the hull has gotten bigger or not.
I also have to point out that the OP's arguments grossly generalize what what said in the original Voya thread and they like to cherry pick quotes to fit their side. While a few posts wrongly claimed that there would be fee increases much of the original Voya thread was actually focused on how Conduent was a bad 401k administrator and Voya isn't any better which is true. Since the OP demands proof of the claim, this is evidenced by the ratings given to Voya by numerous reputable financial sources some of which are referenced in the original thread and by the OP's own admission of similar funds and fees.
I retired pulled my pension out immensely but had left my 401K with Xerox for the time being. I moved my funds Monday it to a top 5 rated company, slightly lower fees. Biggest difference from Conduent and Voya is call center is in the US with real English speaking representatives and this company has a presence locally with human interface! Even checked The Layoff site and Glass Door to get their employees perspective of the company.
@1slv see @2ino and the other thread where people doing the homework explain there’s no change in the funds and for most no change in fees.
I agree that xerox is cutting benefits and this probably saved the company money but every time anyone brings up Voya as an example of this the only reason I hear is “Look at the evidence of what xerox is doing!” - never any evidence of effects on a 401k that wasn’t essentially disproved by the fact the fee schedule is the same and the funds are the same. Just that “Xerox bad, therefore this is also bad for us.” We’re dealing with money here and somehow no one can produce any solid numbers how Voya would cost us more versus currently, just vague accusations of them being “bad.” Maybe they are, but the claim was that it would cost us money. No one has shown that! I’d readily back off of my points here if someone can compare the two services and show me the difference but it seems everyone who’s done that has said they’re functionally identical to the 401k holder. All that we got was the further gnashing of teeth and how those people are just wrong, somehow.
We have plenty to worry about without making up new monsters. And yes, for context, I don’t think this part of the post has anything to do with Voya:
“ Plus the lack of match. And the terrible health insurance. And the lack of meaningful bonuses or raises. And the regular layoffs. And the other yearly cuts while the board keeps rolling in the dough.”
Those are all real problems we should be concerned about, no argument - Instead people have made Voya the monster of the week for no reason, and apparently going against that groupthink gets you called an id–t and a troll.
Folks, I posted this on another Voya thread: Voya and Conduent are plan ADMINISTRATORS, not in charge of the investment choices. After reading the literature I got in the mail, I don't see much of an impact on 401K holders. I am a former employee who left my 401K at Xerox. Why? Inertia perhaps, not having decided on what financial advisor to use? My funds have actually done ok. I did move my pension and that has tracked approximately the same in the markets as my 401K over the past year.
@vbe+18P7LoNK are you trolling or just plain daft? People point out that Xerox is switching from one of the worst 401k providers on the market to another called Voya, that Xerox is continually shortchanging on benefits while trying to tell us they're a tech superstar, and that by using a terrible 401k provider like Voya Xerox is putting the twilight years of its employees at risk. The threads weren't particularly harsh and the points made were largely factual. Yet you're saying that these posts have nothing to do with the Voya changes and people are overreacting and can't read? Maybe you should take a break from the internet because clearly basic comprehension skills aren't your strong suit.
And how does any of that have to do with the Voya changes?
It doesn’t.
Those are perfectly good things to be upset about but the Voya change isn’t, but you aren’t willing to stop frothing at the mouth long enough to read.
Based on my retirement age range, Voya did better last few years then Prudential 401k.
Well actually given that the 401k is the #1 most valuable tool we have to save for retirement having a piss poor provider can set people back significantly. Plus the lack of match. And the terrible health insurance. And the lack of meaningful bonuses or raises. And the regular layoffs. And the other yearly cuts while the board keeps rolling in the dough. But as the other poster said keep eating that flaming t–d and saying it's not so bad.
I’m not happy either, but-
Some of you really need to find something new to focus on. Your job isn’t your life, your worth has nothing to do with Xerox.
This poster did the work to figure out that the Voya change was functionally irrelevant but some of you are so whipped into an endless frenzy about the idea that Xerox BAD!!! you can’t begin to be like “oh, okay, maybe this one thing doesn’t matter” and instead have to double down on how this is just further proof that the Big X is constantly out to get you.
There’s real boogie men out there trying to screw us. Please stop jumping at shadows because you can’t stop s**tposting on here.
Voya hysteria for no reason. That's funny. I don't see what people are complaining about they swapped our flaming t–d for rotten roadkill it's better!
Copied this post from the other Voya thread.
I think the point here is that instead of switching to a quality 401k provider like Fidelity or Lynch we are seeing yet again that Xerox is choosing from the bottom of the barrel. All while claiming to be a tech powerhouse even though no top tech talent would ever choose Xerox with how bad the benefits have gotten