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Lucy215

Help moving money from current 403b with AXA

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Another question.. 

For the NYS 457b plan it says fees Are $20/year and then an asset-based fee of “3.0 basis points.” What does it mean by basis points? How does that translate to an expense ratio? 

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A basis point is 0.01%. So a fee of only 0.03% is fantastically low. Because the NYS 457b plan is so large, they have economy of scale. Some of their index funds have ERs of only 0.01%!

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