Got a call from Fidelity Investments about moving my HPE 401K to DXC. Didn't have time to talk, but I did ask him if it was mandatory to roll it over. He said that as far as he knows, we can keep it with HPE.
Any reason to keep our 401K at HPE, versus moving it to the new company?
Dear Friends,
The f ing CEO Mike Lawrie has ruined the CSC , He has taken out all our benefits, has not given us increments in last 4 years while keep on paying himself huge bonuses.. keep your money away from DXC or CSC MAP.. Their is a self brokerage option but Hwitte charges about $15 per month + $35 per buy and sell. That is what I have. if possible then leave DXC.. it is not worth to work for any company that is headed by rouge person like Mike Lawrie.. he understand IT as much as my plumber knows about IT or management.. I am so sorry about HPE friends.
DO NOT MOVE TO DXC. The decision is irreversible. There are very little options, plus no oversight or monitoring.
The BEST bet is to roll it into an IRA and have your financial advisor manage. Peace of mind frees my mind up. Continue to contribute to DXC, just don't roll 401k into it.
I second previous poster, stick with Fidelity!
Stay with Fidelity Investments!
CSC / DXC stock was selling for $30.00 in the MAP, how its up to $77.00 so that is pretty good.
On the subject of "bonuses " you got to f ing kidding. No bonuses , NO pay rashes. Your lucky (or unlucky) if you don't get laid off.
Same. I have a 5 more years but vanguard is where I'm rolling it all to. Map is cr$$.
I'm in the process of rolling mine over to a Vanguard IRA. I'm not putting anything into that MAP garbage, but then I'm within a year of retirement.
I also moved my HPE 401k to a IRA at another broker. I'm also a "hands-off" investor and up to now this was all in "cruise control". Now I have a money guy who's going to take a more direct approach with my money in an IRA and make it grow. He also agreed than DXC MAP was very limited but also agreed on people taking their free money on company match. It's better than nothing.
Wait until they voluntary eliminate the existing pension at a high discount factor. Underfunded?
Is the MAP matching a sub benefit plan..?
Ever consider your financial position if expected benefits get reduced?
Sheeps start plan b
Directors and above are.
I decided to roll my HPE 401K money to an IRA and that will allow me many more investment options and then just started my DXC 401K over and do 6% to get the match..small match that is, but it beats nothing. It appears that employee benefits moving over to DXC are getting less and less. Even company holidays going forward...no MLK Holiday nor day after Thanksgiving (unless you use the floaters or your vacation time). I'm hearing no more bonuses - can anyone else confirm?
Rollover to IRA. Contribute just enough to DXC MAP to max out the free money. Quick search for rankings at Kiplinger, Mint, Etc. Pick low or no load fees, low expense ratio, low investment requirements, low trade costs to rebalance. If you haven't taken control, do it now.
Compare:
Charles Schwab
Td Ameritrade
Merrill Edge
Betterment
Wealthfront
Optionshouse
Vanguard
Once you transfer to a rollover IRA you are subject to mutual fund and annual fidelity fees in HPE 401 you are not so before you move. Currently HPE absorbs them.
I agree with @7-pam, the choices at DXC are awful. Unless you really like giving Hewitt money, I wouldn't roll it over into the DXC plan. Maybe roll it over into an IRA but not to DXC's MAP.
Pulled mine out and moved to personal IRA at Vanguard. Low fees and lots of investment choices.
As stated below, talk to financial advisor yourself but this is what I learned ...
Fidelity manages the current HPE 401k. Talked to a local office advisor (watch out ... they try the hard sell to be the person working with you). The old HPE 401k account (that houses the Roth and 401) remains "managed under trust". It can grow from only current assets (including "dividends") but cannot be contributed to by you.
To make it grow any more you need to have Fidelity personnel transfer the HPE 401 account to an individual 401 account, and they can ensure the transfer will not violate any IRS tax laws or incur additional taxes. You will have some tracking paperwork the for "rollover", but the transfer of funds is entirely electronic and in-house instead of a 20-day process that requires drawing a physical check.
DXC manager is Hewitt Financial. Transfer of your 40 fund will be the same old painful process. And the fund choices in the DXC plan are pathetic.
One person's opinion.....Depends on what annual return you are getting. If you have invested wisely in accounts with a good return then you could leave it. The HPe account has more investment choices than DXC . I try to engage with my investment options, moving around through funds that weren't bringing good returns and my annual for 2016 was only 5.2%. But I am a novice. I am now working with a reputable financial planner who has me in a portfolio that brought a 9% return in 2016. I chose to roll it over to a retirement account with her for a more hands on engagement with my money. Or you can roll to the DXC MAP to keep all your funds in one place and manage your choices there. Either way the DXC MAP is free money with their small match so be sure to continue to take advantage of that while it is available.
If you have a financial advisor, talk to them about rolling it over to an IRA. Your costs will likely decrease and you'll have a lot more control over your investment options.