Originally Posted by
Bozo the pilot
Anything here at B6 bother you 5urfer? Lets see your list of B6 BS. I see a ton of company talk from you so cough it up- if you have any gripes.
I have gripes. The operation is complete sh*t right now. I also give credit where credit is due. I've already explained this in my previous posts so I'm not going to explain it again.
Originally Posted by
P-3Bubba
The switch the Empower saves jblue $. That's the cost nuetrality of passing out a 8% pay bump, adjusting profit sharing and preparing to pay out more in a CBA. This company thrives on cost neutrality.
Empower doesn't offer the same funds and structures that T-Rowe does. I know SWA switched to Empower and then quickly switched back to their old 401k provider. I don't have a ton of background on that either. I won't bash Empower but I do like T-Rowe and they're switching that without my 2 cents.
-Bubs.
Honestly, I don't give two sh*ts if empower saves the company money. What it ALSO did was save you and I money. That is a win for us.
All of T.Rowe Price's fees (excluding their two vanguard funds) are 40-80 basis points per year (0.4%-0.8%). That's garbage. With $100,000 in your 401k T.Rowe Price costs you $400-800 per year.
Empower's fees are no more than 10-20 basis points (0.01%-0.02%) on any of their funds. Including their actively managed target date funds because they're all Vanguard. So that same $100,000 401k only costs you $100-200 annually for the same market returns.
This isn't a ra-ra JetBlue post. Let's just be real about the change to Empower and the benefits for us it entails.