Is Your 403(b) Costing Your Employees Big?

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Is Your 403(b) Costing Your Employees Big?

Fisher Investments®

401(k) Solutions

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Male Voice: My name is David Bui, I am a Senior Business Development Executive at Fisher Investments, which means I spend a lot of time working with 403(b) plans.

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One of the biggest pain points we come across with 403(b) plans is that many of them are on an annuity platform that costs the employees big time.

An annuity platform means the 403(b) plan is provided by an insurance carrier, and is invested in annuity products.

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This can be problematic for employees for three reasons: Investments, Fees, Service.

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First, the investments on an annuity platform tend to be insurance-based. This translates to commissions for the advisor, higher fees, and often, lower overall performance.

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Next, the fees tend to be higher on an annuity platform because of the commission and insurance.

The fees can also be more difficult to calculate because of the confusing commissions.

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Lastly, service & support on an annuity platform tend to be lower. This is due to two reasons:

The first: Annuity advisors don't typically act as a fiduciary. This means they aren't required to act in your best interest.

The second: Annuity advisors rarely provide any support or education to the participants in the 403(b) plan.

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More than half of all 403(b) plans are on an annuity platform today. The good news is it's pretty easy to fix!

A specialized advisor–like Fisher Investments–can provide a non-annuity platform for your 403(b) plan. This means high quality investments, reasonable & transparent fees, and robust participant support.

This can help set your employees up for the retirement they deserve.

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Fisher Investments 401(k) Solutions. © 2022 Fisher Investments. Investing in securities involves the risk of loss. Intended for use by employers considering or sponsoring retirement plans; not for personal use by plan participants.

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