I work about 30 hours every week for a really small firm of 5 workers. Now we have an employer 3% match which I contribute 5% to.
The 401k is managed by an organization known as American Century. From what I can inform, their mutual funds of no matter you name all of them have 1.2% or better administration charges. I do know this can be a rip off and I wish to use a low value index fund, however they don’t appear to have one.
The HR at my firm is non existent. We use ADP for payroll. Nobody else appears to know
or care why we use American Century or how we might change over to love Constancy to self handle. Is it so simple as telling the payroll firm I’ve a brand new 401k at constancy after I make an account there and getting my funds deposited there? After which afterwards attempt to get my 401k funds (not very like 5k) “rolled over” (is that the suitable time period?) to this different account? Can I keep worker there or does this occur when leaving an organization?
Thanks
o