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A comment on Swedish pension giant loses $1.1 billion from US banks’ collapse. Parent comment

Re:Swedish pension giant loses $1.1 billion from US banks’ c... by ticviking on Monday March 13, 2023 @03:18PM (#35141001)
One of the things that most frustrates me about pension funds and even 401k funds is how my retirement is managed by someone who has no concern for my values and could in fact use my money to oppose my values and best interest(as a whole) in the pursuit of increasing gains.
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Re:Swedish pension giant loses $1.1 billion from US banks’ c... by s1artibartfast on Monday March 13, 2023 @03:33PM (#35141198)
If you are frustrated with your 401(k) management, consider rolling it over to an IRA so you can direct it yourself.

https://www.biglawinvestor.com/partial-401k-rollover/

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Re:Swedish pension giant loses $1.1 billion from US banks’ c... by buzzy_hacker on Monday March 13, 2023 @03:40PM (#35141293)
Most plans don't allow rollovers while you are still employed at the company.
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Re:Swedish pension giant loses $1.1 billion from US banks’ c... by s1artibartfast on Monday March 13, 2023 @03:51PM (#35141479)
Sure, I don't know the numbers but you're probably right. Hopefully the comment helps someone
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Re:Swedish pension giant loses $1.1 billion from US banks’ c... by lotsofpulp on Monday March 13, 2023 @03:20PM (#35141033)
If your 401k does not have an option for low cost broad market index funds like SP500, then that is a fault of your employer forcing employees to take on extra risk.
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Re:Swedish pension giant loses $1.1 billion from US banks’ c... by philips on Monday March 13, 2023 @03:30PM (#35141168)
Or it is the fault of the government for not letting employees have access to self managed IRAs while employed
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Re:Swedish pension giant loses $1.1 billion from US banks’ c... by Arainach on Monday March 13, 2023 @03:41PM (#35141318)
Retirement accounts are not intended as general purpose investment vehicles. If everyone could put their 401k/pension in anything, you would see a lot more people getting scammed and gambling on the latest GameStop internet mania. If folks want to invest like that, get a brokerage account. If you want tax-advantaged retirement planning, being limited to less risky things is the tradeoff you make.
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Re:Swedish pension giant loses $1.1 billion from US banks’ c... by lotsofpulp on Monday March 13, 2023 @03:50PM (#35141453)
There is no reason Fidelity/Schwab/Vanguard/etc could not restrict accounts to certain investment options just like 401k are.

Also, IRAs already exist. No reason for an employer to be in the middle.

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Re:Swedish pension giant loses $1.1 billion from US banks’ c... by lotsofpulp on Monday March 13, 2023 @03:49PM (#35141433)
That is true, too. There is no reason an employer should be involved a person’s retirement or healthcare.
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Re:Swedish pension giant loses $1.1 billion from US banks’ c... by hnuser847 on Monday March 13, 2023 @03:58PM (#35141596)
There's nothing stopping you from having both at the same time, with the caveat that your contributions to the IRA may not be deductible if you earn over a certain threshold.[1]

[1] https://www.nerdwallet.com/article/investing/can-i-have-a-40....

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Re:Swedish pension giant loses $1.1 billion from US banks’ c... by Ekaros on Monday March 13, 2023 @03:21PM (#35141050)
Or with increasing of ESG investing ignore possible gains for political reasons. Thus making my future life worse as they don't extract maximum possible value from market.
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Re:Swedish pension giant loses $1.1 billion from US banks’ c... by giarc on Monday March 13, 2023 @03:57PM (#35141584)
Unfortunately this is a 'vote with your feet' situation. If you don't like who is managing your 401k, then work for another company (which is drastic, I know). The other option is to simply write to your plans administrator. Tell them your concerns and organize a letter writing campaign if you are really concerned.
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