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How do i find all the retirement plans that would be linked to topographic inc ??? and can i use somebody like edward jones to roll over and reinvest??? how does my part get calculated?? the ein is in my name??? for our erisa 5500??

Jul 14, 2013 by wade from Canyon, TX in  |  Flag
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Andy Tilp, CFP® Level 16


Regarding your second question: If I understand your question, you as asking if you can roll over your 401k (or other employer retirement account). Typically, you can only roll money from a 401k or other employer plan into an IRA after you leave the employer. Once you are no longer employed there, you can roll over the employer 401k or other retirement account into an IRA that you can manage. (There may be an exception if your company has special provisions in your 401k plan once you get close to retirement. You need to check with your HR department.)

Be aware that a custodians such as Edward Jones charge very high fees. Firms such as these often charge a 5%+ load fee, or commission, to buy their investment, plus an annual management fee. For example, if you give them $100,000 to invest, they will take $5000 off the top as a commission fee, leaving you with $95,000 actually invested.

It is also very important that you find someone whose fiduciary responsibility is to you. This means they must act, by law, in your best interest above all others, including their own. Many brokerage, banks and commission based firms are not legally required to have your best interest held in first place. Rather, their responsibility is to maximize their company’s profits and their only requirement is to direct you to an investment that is ‘suitable’ for you.

I would suggest you look for a fee-only financial planner to help you establish an asset allocation you can manage. Depending on how much you are investing, you could save tens of $1000s in fees over the life of your investing. That is money in your pocket, versus the sales rep’s pocket. You should always ask an advisor to put their fiduciary responsibility in writing. You can find a fee only planner at NAPFA and Garrett Planning Network. (Full disclosure – I am a member of both.)

Andy Tilp, CFP ® Trillium Valley Financial Planning, LLC

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