HOW SAFE IS MY 401(K) RETIREMENT ACCOUNT?
Banks insure, I believe, up to $100,000 in an account.
Is there some shelter on 401(k) plans?
My whole withdrawal statement is with a consort that has been thoughtful solid, Now I don’t think some consort is “solid”.
Fortunately I took all my money discover of stocks and place it into short constituent money mart or change most 4 eld ago.
My exclusive another income is ethnic security.
A 401(k) is a section of the tax code (401) and not an investment.
What is inside the 401(k) matters. Don’t know what you’re holding so I can’t tell if it is “safe.”
401(k) accounts are NOT kept on a company’s balance sheet. Thus in the event the business failed, your 401(k) is not wiped out unless, all your money was invested in the company’s stock.
more:
Pension Benefit Guaranty Corporation
(protects against company failure, not a drop in your investments)http://www.pbgc.gov/workers-retirees/ben…
edit:
Nice work on the money market. Is it FDIC insured? Some are most are not. Read the print on this not what people tell you.
If you have left the company, I would move the 401(k) and do a “Direct IRA Rollover.”
Here you have better control and virtually unlimited investment options verses the dozen or so funds the company has.
401(k) accounts, per se, are not insured. The investments you hold within them may be. If you’re invested in money market funds, then the funds themselves are propably SIPC-insured.
If you are retired, you should roll that 401(k) account over into an IRA – which you can invest wherever you wish, including in FDIC-insured CDs.
read the info in it