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Sunday, January 3, 2016

Poor investment choices in 401k and TCP1.

The LLNS investment committee must be getting kickbacks from Fidelity. It only offers high fee options, when low fee options exist. Why? Goldstein getting kickbacks?

For example: In 401k 
The fee on the SP500 index mutual fund is a gigantic 0.25% per annum of assets which is three times what Fidelity charges for the same plan elsewhere.

In TCP1 the most basic, most efficient,most widely held, most recommended low fee SP500 index fund isn't even available. Only less effective UC managed imitations which perform more poorly exist.

Is the LLNS investment committee paying attention?

Offer a low fee (< 0.07%) SP500 index fund option in both places please. It is the most basic invest ment plan building block after cash.


Anonymous said...

So what would be the reason to get rid of TCP1 people and TCP1? I can understand getting freezing out TCP1 as it will save money as the people will have to transfer to 401k. Less obvious is the reason for getting rid of the TCP1 people.
January 2, 2016 at 9:52 AM

Anonymous said...

A person can use the Brokerage Link option to invest in funds with lower fees.

Anonymous said...

Of course they're getting kickbacks. They call it "revenue sharing." It means a portion of the fund expense paid with our money goes to pay LANS and LLNS. More specifically, we share our personal revenue with an entity that gets eight figures a year of taxpayer money as award fees. Many investors are not knowledgeable enough to know what to do with brokerage link. LLNS and LANS investment committees take advantage of them. It seems questionable that they're meeting the standard of a fiduciary when they're in bed with the investment companies splitting their take of our money.

Anonymous said...

Scooby. The blog worked. The LLNL Internal website today announced that Fidelity corrected a typo on the 401k program website. The error fee of 0.23% was corrected to 0.023%. This is a very reasonable fee indeed.


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