Did you ever find out why they wanted to change 401K providers?
It was a small partnership that was also a family business. The “committee” was likely 2-3 of the 8 partners, who deferred to whomever saw the dog and pony show from the fund manager that recommended the switch. When the majority partner / founder saw the reaction, he mixed the deal.
I was in my mid 20s, and only understood what was going on because of my research into investing the prior years bonus (prev mentioned).
If the switch attempt had happened a year earlier I would have shrugged and walked out of the meeting befuddled.
It was a small partnership that was also a family business. The “committee” was likely 2-3 of the 8 partners, who deferred to whomever saw the dog and pony show from the fund manager that recommended the switch. When the majority partner / founder saw the reaction, he mixed the deal.
I was in my mid 20s, and only understood what was going on because of my research into investing the prior years bonus (prev mentioned).
If the switch attempt had happened a year earlier I would have shrugged and walked out of the meeting befuddled.