More 401k ConcernsTuesday, May 5, 2009
People hit by hard times need money quick. Or perhaps they just don’t like risky investments anymore, or they don’t trust the intentions of the government concerning 401k plans. However, due to “liquidity” problems, some people are having their investments frozen in their 401k plans. A good article from the Wall Street Journal:
Some investors in 401(k) retirement funds who are moving to grab their money are finding they can’t.
Even with recent gains in stocks such as Monday’s, the months of market turmoil have delivered a blow to some 401(k) participants: freezing their investments in certain plans. In some cases, individual investors can’t withdraw money from certain retirement-plan options. In other cases, employers are having trouble getting rid of risky investments in 401(k) plans.