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Author: JefBell Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76418  
Subject: SIMPLE IRA, index fund, account w/whom? Date: 9/4/2003 4:20 PM
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My new employer has a SIMPLE IRA, and I need to set up an account for it with somebody. Here is what I'm looking for:

- I want to put my contributions into a low-expense-ratio, no load S&P 500 index fund, e.g. Vanguard's fund.
- Every month as I and my employer make a contribution, I want it automatically invested in the fund.
- I want to pay as little as possible (preferably nothing!) in annual or monthly fees or commissions to make this happen.

Basically, I want it cheap, and I don't want to have to think about it much!

Most of my colleagues have their accounts with e*trade or ameritrade. But since I'm not really interested in doing much trading it's not clear this is the right choice for me, plus it's a challenge to figure out from a web site how much this will really cost me. I've also looked into buying a fund directly from Vanguard or Fidelity, but neither of them handles SIMPLE IRAs unless my employer names them as the "designated financial institution" and locks all employees in to that company.

Anyone have any suggestions?

Thanks much,
Jef
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