For any of those considering moving your 401K to an IRA or a new employer's 401K plan, it would seem it's a good time.
In reviewing the fee statement from Empower I received today, they definitely plan to make some money off of all of the participants. Administration fees as well as fund fees are well above the norm of other administrators plans.
Seems to me it is just one more way that CDK is working against the best option for their employees.
FAQ section of most recent company communication.
Where do I find information on Empower fees? I don't see anything in the brochure I received in the mail.
I am CDK victim, just rolled over my 401k to IRA. All done with CDK. Now I will enjoy and watch CDK going down the drain.
Interesting comments here: https://www.yelp.com/biz/empower-retirement-greenwood-village-3
When an employer don't have match it is best to max IRA for you and your wife first. Then use the 401K to get past max limits of the IRA and then transfer 401K to your IRA when you can. You can also invest money into an IRA for your kids. You can always withdraw the Roth IRA contributions tax and penalty free.
Wow!!! Just got the packet of information and not only are the fees high but the fund choices are poor as well. Wonder if ELT got a bonus kickback from Empower on this to further pad their wallets.