401K Warning!!

[Raw]

With the stock market going down I got in the habit of transfering funds from safe to risky as I felt was needed to grow my 401K. As you know , Prudential is now running our 401K. The other day I transfered 80% out of the Stable Fund ( I had 100% in it ) to a more risky fund for a short time then my intent was to go back in the Stable Fund as the market would probaly continue down. After talking to the fund rep I found out that I can`t return the money to the Stable Fund for 90 days! No prompt to the new rule whatsoever!

 

[BigBrownSanta]

Which fund was it? Some of the funds had a waiting period even before Prudential took over.

 

[Paid-over-in-Maine]

I thought that I got some correspondence that explained the waiting period.

 

[drewed]

I think mine was always set up that way, well actually i think it was once per fiscal quarter...

 

[Big Babooba]

I was just wondering, do our Canadian friends have anything similar to our 401K?

 

[Jones]

I was just wondering, do our Canadian friends have anything similar to our 401K?

I'm kinda curious about that myself. I know they get the big http://en.wikipedia.org/wiki/Canada_Pension_Plan in addition to whatever they get from UPS.

 

[pkgdriver]

Which fund was it? Some of the funds had a waiting period even before Prudential took over.

Yep there were some stipulations with state street also.

 

[DS]

I was just wondering, do our Canadian friends have anything similar to our 401K?

The 401 is a major highway here,the only thing we know is what we read in here.From what I've gathered,its a kind of way to insure you will be ready for retirement money wise.Well we have no such thing.We will be entitled to the canada pension fund plus whatever ups gives us.We will still owe about $30,000 on our house ,IF, I survive as a driver till I'm 65.
So in the next few years we have to downsize and try to cut back on luxuries,like vacations and restaurants.
We will survive.

 

[UpstateNYUPSer(Ret)]

DS, I like the 401. I drove it from Cornwall to the bridge going to Detroit.

 

[caspers1]

I got a letter this week from the 401k that they would put a credit to mine and other accounts. This was due to large loss from market projections. An agreement with previous holders of our 401k .

 

[LastBest&Final]

For as long as I remember you can move it once a quarter (no day trading), but it might take a few quarters for the stock market to go back up. When it does you'll make out good. As for me I'm hoping it stay down until I'm ready to retire, because I'm still buying.