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Investing/Strategies / Retirement Investing
|Subject: 401k/Company Stock||Date: 1/7/2002 9:50 AM|
|Author: mwlowe||Number: 33137 of 75335|
A question for any Fools out there who purchase company stock thru there 401k Plan --
What price ranges are you getting the stock at in comparision to the stocks current market pricing?
I've just added my company's stock to my 401k portfolio since its price is off its 52 week highs and I just hopped online to verify my end of year balances and noticed that my first 2002 contribution was already recorded so I checked on how many shares I had actually purchased... Imagine my surprise when I discovered that I purchased 1.03 shares at $40 and change. Just to let you know this is about 4.1 times Fridays closing price on the stock.. Do other companies do this too? This is actually my first actual 401k plan. My other retirement plan with the last company I worked for was a SIMPLE-IRA. I checking with Human resources today for a hard copy of the SPD to see if it actually mentions this kind of "price inflation". But I also wanted to find out from others if this is a common practice.
Thanks for any help/assistance any of you can offer
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