More great information
dbr,
Thanks for the 2 links to 401K plan information, especially the one on Plan Design Consultants, Inc. - 401(k) Retirement Plans. Great stuff. Maybe I'm getting ahead of myself but I am starting to feel I now know or understand how our 401K plan works than the 401K company admn or the bank VP 401K plan trustee.
Again, when you ask as I did the bank VP (401K plan trustee) who is our company’s main contact for our retirement plan how earnings are managed within the 401K and get responses like "I don't know. I'm not an accountant but will be happy to refer your question to our Trust Acctg Department" or "Look at it this way; at least you had $4.49 in earnings for 2007 when the stock market had a rough year." Yikes!! This is our plan trustee. Again, this is referring to DODGX with a 401K plan balance of $151,766. Those kinds of responses caused me to raise my eyebrows and want to dig a little deeper for answers. Fortunately, I found all the answers I think I need with the help of everyone in this forum.
Thanks,
Retire63
dbr,
Thanks for the 2 links to 401K plan information, especially the one on Plan Design Consultants, Inc. - 401(k) Retirement Plans. Great stuff. Maybe I'm getting ahead of myself but I am starting to feel I now know or understand how our 401K plan works than the 401K company admn or the bank VP 401K plan trustee.
Again, when you ask as I did the bank VP (401K plan trustee) who is our company’s main contact for our retirement plan how earnings are managed within the 401K and get responses like "I don't know. I'm not an accountant but will be happy to refer your question to our Trust Acctg Department" or "Look at it this way; at least you had $4.49 in earnings for 2007 when the stock market had a rough year." Yikes!! This is our plan trustee. Again, this is referring to DODGX with a 401K plan balance of $151,766. Those kinds of responses caused me to raise my eyebrows and want to dig a little deeper for answers. Fortunately, I found all the answers I think I need with the help of everyone in this forum.
Thanks,
Retire63