dirtbiker
Full time employment: Posting here.
- Joined
- Apr 11, 2019
- Messages
- 630
My company was just bought out, and the 401K was moved from Principal to Paychex. I was automatically enrolled in a year 2045 retirement plan. I want to rebalance to 100% S&P 500 ETF, and when I went to make the change, this notice popped up:
"100% Schwab S&P 500 Index
A purchase block will be placed on an American Fund if your redemption for that fund exceeds $5,000.00. The block will be in effect for 30 days unless another time period is specified in the fund's prospectus."
What does this mean? And my 401K balance that I will be rebalancing is greater than $5000.
"100% Schwab S&P 500 Index
A purchase block will be placed on an American Fund if your redemption for that fund exceeds $5,000.00. The block will be in effect for 30 days unless another time period is specified in the fund's prospectus."
What does this mean? And my 401K balance that I will be rebalancing is greater than $5000.