Skip to main content
No. of Recommendations: 0
My wife works for the local school system and is contributing the max ($10,000/year) to her 403B retirement account. The account is set up to go into 4 Vanguard funds and is performing quite well. The school system's 403b plan is administered by Lincoln National. Lincoln national takes a 5% cut off of the top of each contribution (e.g. $500 per paycheck is withheld but only $475 is invested in the Vanguard funds). I don't understand what Lincoln National does to earn this fee. Is there any way to circumvent this fee and have the 403B contributions go directly from the school system to Vanguard? Is this a standard setup for 403b's? Any advice would be appreciated.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.