IPX Fidelity vs Vanguard Proper in 403(b) Forum Posted May 26 · Report reply I can't answer questions about the fees that JC pays. After looking at IPX on 403bcompare (sited above), I would stick with Vanguard and skip Fidelity. The difference in expense ratios of their index funds is minor. I'm assuming you are going to use index funds? A difference of 0.02% on 300k is only $60. Third party administrators like OMNI charge for each district employee that has an 403b account. Somebody has to pay the fee. The expensive vendors agree to pick up the tab because they make a lot of profit on their products. Most districts don't want to pay the fee and are happy to have it taken care of by the vendors. The district's are oblivious as to the high fees that their employees are charged.The low-cost vendors like Vanguard and Fidelity won't usually pay the fee. Vanguard and OMNI have recently worked out an agreement to have Vanguard collect the TPA fee from the employee and send it to OMNI. I don't know how IPX is handling the TPA fee.