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Hello All -
I'm wondering what happens to a 401k if the employer goes belly up? I'm talking about a mid sized corporation. For bank deposits there is the FDIC. For Pensions there is the PBGC.
When I retired early, I left my 401K at the old employer. It continues to grow and I see no reason to roll it into an IRA at this time unless I feel the firm may experience financial hardships.
Is there any Federal protection for 401k's similar to the protections listed above?
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