https://www.cohenmilstein.com/case-study/ibm-401k-plan-investigation/
9 replies (most recent on top)
Interesting, I thought it was because they started the new RBA account where they put in 5 or 6%, where you can no longer invest this money. They are giving 6% first 3yrs then prob lower not great for newer hires. But touted as no market volatility
@bzcs+1rCupFsL about 2x that amount in 2013 $s across all investment accounts, plus 2 IBM pensions (old plan), 0 debt.
@9lrx+1rCupFsL would you mind sharing how much you had in your 401K when you retired at 55?
I'm 58 and part of the "relocate or separate" mandate, so planning to leave come August. I have $1.3M in my 401K and a paid off house ($720K estimate).
I'm thinking of just retiring. We live in a fairly low cost state. Fidelity's charts show that we have more than enough to make it to 94. We won't be living high on the hog - but won't be slumming it either.
I'm just interested to hear from others that have done it. Thanks.
Not sure what they are investigating. IBM 401K always had good investment options, both proprietary and commercial, fees were low and company match (prior to recent changes) was good. Helped me retire at 55 with no future financial worries. Left my money in the 401K for 10 years after retiring before I bothered to roll it over to an IRA for ease of withdrawal.
Thank you for posting this information. Is the concern that investments in Fidelity Funds ,Target Date Funds, expanded Choice Window are adding additional costs to the employees either on initial investment, redemption or unruly management fees ?
Should the expanded choice window be AVOIDED? Please advise.
Ambulance chasers.
Just another investigation that goes no where and changes nothing with this company
Best decision I ever made was rollover my funds to my own Roth/Rollover IRA once I left the company but would want to get compensated for any excessive fees if it’s determined that happened
Several times over my career I would notice sudden reductions. I figured they were fees but seemed large. Could not trace it back to drop in equities.