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gerry lef

401kasp, 403basp And/or 457basp Anyone Use This Company?

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Anyone here have any experience with asp? A search turned up a few posts from Feb of this year.

 

I am asking because I am trying to find a low cost mutual fund platform as a 457b and 401a provider for my county. I would normally go directly to a mutual fund company but employee assets are spread out over 4 existing plans and admin has no interest in consolidating plans.

 

I have a phone call into them, but, any comments/real world experience would be helpful!

 

Thank you in advance?

 

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Jerry --

 

I am a LITTLE familiar with this company and have heard good things from a number of people in this field whom I respect as ethical. In a (fruitless, hopeless, dispairing) effort to get my district to consider THINKING about the 403(b) issues, I have talked to one of the principals of this company. So I have been to their website and looked it over at length, read about them, talked to one of the principals in some depth, and discussed the company with people in the field who have a high level of integrity ........ and all the flags so far are green.

 

I sure wish I worked in your county!!

 

JudyS

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Thanks for the responses Blake & Judy. My current 457b/401a providers are: Hartford, Valic, Nationwide and FTJ Fundchoice. All of these options have expenses > than 100bps. While my HR/Admin dept has been supportive of adding a true low cost provider, it has taken me 18-20 months to get at least 8 people interested in a low cost option. The apathy of my fellow employees is amazing. Many employees do not even invest up to the county match of 3%.

 

My options for a new 457b and/or 401a providers are: CalPERS, Fidelity, Vanguard and/or ????

 

CalPERS does not offer a 401a plan (requires changes to state law), Fidelity will offer a 457b plan but the 401a plan only at a certain asset level, and Vanguard requires at least 1 million is assets for their admin of a 457b plan. With employee assets spread over 4 existing plans, maybe ASP can meet our needs.

 

Gerry L.

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Gerry --

I'm with you on the apathy business. With 8 people interested, you have 6 more than I can find, and none of mine are in administration. It's interesting that one of the most knowledgeable people around my workplace is the guy who drives the old blue van and delivers the mail between buildings. He knows what he's talking about and is a long term Vanguard investor. But the superintendent, ######'t supe, business manager and other administrators -- never mind most of the teachers -- don't apparently care. When I asked the business manager when we could talk (because I had never met her before or had a chance to talk about the issues coming up, but I had started with a letter to her a few weeks prior) she turned, sneered, and said, "Well, you got your check, didn't you? THAT's what we work on."

 

With apathy being so widespread, you'd assume it is an attitude people have been aspiring to, wouldn't you? Gerry, maybe we're missing something.

 

JudyS

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