Forced 401K liquidation... Argh!!!

[FinanceDude]

Quote:

Originally Posted by kyounge1956 Do you have a link to the harebrain plan? Is it the same idea that was discussed on a Soapbox thread toward the end of last year?

I beleive so,I'll try to find a link.

Quote:

The Obama Health Insurance thread seems mighty lonely over in the FIRE related political topics forum. Maybe a second thread there would break the ice.

I knew that would happen. Funny, the Soapbox seemed to calm done nicely after the election........

[FinanceDude]

Here it is:

House Democrats contemplate abolishing 401(k) tax breaks - InvestmentNews

[kyounge1956]

Quote:

Originally Posted by FinanceDude Here it is: House Democrats contemplate abolishing 401(k) tax breaks - InvestmentNews

Obama Health Insurance isn't alone any more. C'mon & vote.

[FIREdreamer]

Quote:

Originally Posted by FinanceDude On the ohter hand, its managed by Bill Gross, who is one of the top 2 or 3 fixed income gurus in the whole world.........

Well, I hope Bill Gross will continue to be a top manager for a while because the bond index option has just been eliminated so it looks like I am going to pour a lot of money in PIMCO total return. It's the only bond option still available in my wife's 401K.

And guess what, even though I am FORCED to sell my previous funds to buy new ones, Fidelity is taking a rather generous helping of short term trading fees on most exchanges (fees assessed on new contributions to the old funds for the past 1-3 months depending on the fund).

It keeps getting better and better...

[jazz4cash]

Quote:

Originally Posted by FIREdreamer And guess what, even though I am FORCED to sell my previous funds to buy new ones, Fidelity is taking a rather generous helping of short term trading fees on most exchanges (fees assessed on new contributions to the old funds for the past 1-3 months depending on the fund). It keeps getting better and better...

That's outrageous. When my Mega-corp 401k rolled out a new menu of funds, they arranged the xfer in stages, postponing xfer for funds that had short term trading fees to clear the penalty period FOR THE BENEFIT OF EMPLOYEES. Why the heck should FIDO benefit because Mega-corp is revising thier offerings? These fees are easily avoided if the plan was truly managed for the beneficiaries.