As if getting laid off wasn't cost saving enough, now they wanna charge me service fee's for having my money in the 401k. Glad I'm done with them. Lol
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No one should ever leave their 401K with a former employer. This is even more critical with a company such as SLB who uses a 3rd Party to manage the 401K program. There is no visbility to the actual activities in the holdings you have selected.
Take your money and move it into a retirement account (401K Rollover or Traditional IRA) with any one of the major investment houses. This is your money. You earned it. You and no one else is responsible for managing these investments for your future retirement income.
The game being played by SLB and Alight with your 401K is a joke. Neither organization is an investment / financial brokerage company. Your investments are not in their best interest.
Really, it makes sense, if you're no longer an employee why should SLB not charge an administration fee (isn't it something like $35 a year?). No one has a gun to your head, move your money, you'll pay a heck of a lot more anywhere else.
I also found that for every HSA spending transection, they are charging $3. Not fair.
Does any one know how much they are charging to 401K account for ex-employees? What is the percentage incease in account fee?
it all for your servicesht
they also add monthly service charge on HSA to non-active employee
SLB's 401K provider is terrible. The best thing about being laid off from SLB other then finanlly getting rid of that Big Blue Octopus off of my back was to pull out y 401K. I willingly paid that fee to move my money out of a program that was cloaked in absolute secrecy.
I don't know how old you are but sometimes leaving your 401k in a old employer does make sense. The 401k 55 rule is one example. Just google that if you are 55 or older. Good luck to you all. I was laid off in the 2016 downturn after 14 years of service. Have since found a much better paying job without the stress and hassle of big blue.
Thank you, sir!
I would go with someone else. Morgan Stanley, Fidelity, TD Ameritrade etc. I use Morgan Stanley and am very happy with them.
What about in regards to rolling into an IRA with the same broker that your company used? Is that generally recommended as well? Thank you!
"Roll this into an IRA someplace. Never keep your 401k with former employers."
Roll this into an IRA someplace. Never keep your 401k with former employers.