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I have a Employee Stock Ownership Plan and Trust. Not sure what is my net step, as far as my investment is concerned. This is my daughters email address berlindabaca@msn.com phone #505-363-9844 She is my beneficiary.

I have not received any information on this or statements. Would like to find out what to do if to continue, steps to with draw if need, or if i been dropped from the plan.

May 24, 2013 by Berlinda from Los Lunas, NM in  |  Flag
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Berlinda,

Thank you for your question. I would recommend that you or your daughter (if you have empowered her) contact your employer to determine your account status. I am guessing you are retired and if all of your investments are in your previous employer's stock you might want to take a look at diversifying.

The bottom line is that employee retirement plans can be complicated and you'll want to get advice from a competent advisor who understands both the investment and tax implications of your actions in relation to the Employee Stock Ownership Plan.

Comment   |  Flag   |  May 25, 2013 from Alexandria, VA

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Berlinda,

Every retirement plan has a Plan Administrator which should be able to provide you with a Plan Document outlining the plan and it's investment options. They should also be able to address your concerns. Because your plan seems to incorporate an ESOP as an investment option, this investment allocation if used may add some additional liquidation and or valuation issues. Especially if your employer is a privately held company and not a publically held company. The other option is contact your Human Resources Manager and ask them for the contact information.

Remember, your Plan beneficiary designation form, NOT your will controls the future distribution of these assets/funds to your beneficiaries. Please confirm who you elected on this form so that your wishes are followed.

For security concerns, I also recommend that you don't list emails and phone numbers in your future questions.

Only proper financial planning and timely action, will insure that you are achieving your desired life outcomes!

Comment   |  Flag   |  May 26, 2013 from Milwaukee, WI

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Berlinda, first, be very careful when you post your private information on the internet… anyone can see what you post. You only put up an email address and phone number, but in the future, keep in mind that anyone can see what you post.

Call Human Resources at your company. They should be able to give you some general information, and, depending on the size of your company ,may be able to execute the option you want to select. Ask for the phone number of the plan administrator. The plan administrator, as the name implies, actually administers the plan.

The assets in your retirement plan are meant to last the remainder of your life. You should incorporate it into a financial plan. Seek advice from a local financial advisor. Seek referrals from trusted friends and neighbors, and find a good financial advisor that you feel comfortable with.

Comment   |  Flag   |  May 28, 2013 from Delray Beach, FL

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