Answers in 401k Plans

Here you will learn to understand your 401k and how to utilize your retirement plan as a valuable ally in the fight for a successful retirement.
3 votes
Douglas: You should call the HR department of Florida Tile and ask for the phone number of their 401k Plan Administrator. Explain your situation (I assume you are a former employee) and that you wish to roll over any balance you have in the Plan. Once ...(more)
1 vote
Barry Rabinowitz Level 19
Hi: Based on your risk tolerance and time horizon- I would pick an asset allocation and stick to it unless something changed in your personal situation.Timing the market does not workand that is why the average investor does alot worse than the markets ...(more)
16 votes
Jeffrey raises a good point --investors do better when they avoid changing their portfolios often (typically in response to the market). Why? Investors typically sell at low points (sell into weakness) and buy at higher levels (buy into euphoria). The ...(more)
6 votes
Great question, Roberto. My suggestion would be to first make sure you are saving enough money for retirement. (This in itself has very little with the investments you choose). If a person is only saving $50 per pay and never changes it doesn't matter ...(more)
14 votes
What a great question! I wish more plan sponsors were asking this question as time is running out. I'd say the first step is to make sure your provider, aka Recordkeeper, is prepared to send out statements that meet the DOL's recently finalized guidelines ...(more)
3 votes
Hi Michael, Contact the HR Dept of your former employer - they will be able to direct you to your account (even if the plan provider has changed).
6 votes
Allan Henriques Level 18
As a plan sponsor, the best way to prepare for the upcoming changes to 401(k) fee disclosures is to educate yourself about your company’s 401(k) plan now so that you can be sure you’re meeting your fiduciary duty and offering the best possible plan to ...(more)
9 votes
James Holland Level 18
James Holland Roberta I agree try HR you can also try the website attached you should have been given login information. https://www25.benefits.ml.com/login/login.aspx
3 votes
Mike Kane Level 15
The record keeper, in this case Merrill Lynch typically aren't fiduciaries, Neal. They may have a 3/21 limited scope fiduciary. In this case, Rocaton Investment Associates, who appears on the 2010 form 5500 as the advisor. The fiduciary is the Plan Sponsor ...(more)
0 votes
The Macy's H.R department.
1 vote
I would check first with the HR department, and ask them to guide you. In addition, check you statement and contact the fiduciary of the plan, who may be Fidelity, Vanguard, or another qualifed fiduciary. Check to see if you can set up the ability to ...(more)
7 votes
Allan Henriques Level 18
Melissa, Without knowing the specific details of your situation, it’s hard to say whether you are a fiduciary or not. Based on the information you’ve provided, though, it sounds like you might be. Generally, there are a couple of things you can do to ...(more)
2 votes
your previous employer's HR dept should have transfer paperwork you can submit to their 401k vendor to roll it into an IRA at your brokerage firm account. Make sure you keep it as a non-taxable event.
2 votes
Barry Rabinowitz Level 19
Hi: yes-it is a good idea to transfer to an IRA. There will be no tax consequence as long as it is trustee to trustee. Do not ask for a check made payable to you. With an IRA ou will have hundreds of investment choices, rather than the small menu from ...(more)
1 vote
David Kleinik Level 15
Jose, The Company should have sent you a quarterly statement in the January time frame usually they have the internet info there David Kleinik
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