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Author: gilvid One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76078  
Subject: Fidelity Manager Changes Date: 1/7/1998 9:14 AM
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Do any of you know what has gone on in Fidelity the past year or so? My x employer recently had Fidelity take over our 401K but under the present arrangement my choices are rather limited. I would like to roll it over to a Fidelity IRA and manage it myself but I hear reports that many mangers have and are leaving Fidelity. Upon further study I find that many of their fund managers have only been on the job a year or so and some are fresh out of college. Makes me nervous about the future of their funds. Since there were articles written on the subject in financial publications when changes were going on I have started to search these on the net. Do any of you know of a good site to get back articles in publications like Time, Newsweek etc.?
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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1109 of 76078
Subject: Re: Fidelity Manager Changes Date: 1/7/1998 2:46 PM
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Greetings, Gilvid, and welcome.

<<Do any of you know what has gone on in Fidelity the past year or so? My x employer recently had Fidelity take over our 401K but under the present arrangement my choices are rather limited. I would like to roll it over to a Fidelity IRA and manage it myself but I hear reports that many mangers have and are leaving Fidelity. Upon further study I find that many of their fund managers have only been on the job a year or so and some are fresh out of college. Makes me nervous about the future of their funds. Since there were articles written on the subject in financial publications when changes were going on I have started to search these on the net. Do any of you know of a good site to get back articles in publications like Time, Newsweek etc.?>>

Sorry, can't help you with news on Fidelity managers. We don't really follow mutual funds much in The Motley Fool. They're just not our bag. I'm curious, though, how you expect to transfer your 401k money to an IRA with other Fidelity funds. While you're employed at the company using that 401k, it's generally impossible to do so. Sometimes -- if the plan allows it -- you can transfer an employer's match (but not your contributions) after the money has been in the 401k for two years. Also, some plans allow transfers after you have reached age 59 1/2. Is one of those the reason you think you can do this?

Regards.....Pixy

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Author: gilvid One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1135 of 76078
Subject: Re: Fidelity Manager Changes Date: 1/9/1998 8:00 AM
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Thanks Pixy, for the response here and the Email.
Think you missed a key part of the above message. It is my X employer. Left them and went out on my own about 2 yrs ago, but left the 401k with them till things settled down.
It's better now since Fidelity took over, but their management shake-up makes me nervous.

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Author: gilvid One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1136 of 76078
Subject: Re: Fidelity Manager Changes Date: 1/9/1998 8:03 AM
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Thanks Pixy, for the response here and the Email.
Think you missed a key part of the above message. It is my X employer. Left them and went out on my own about 2 yrs ago, but left the 401k with them till things settled down.
It's better now since Fidelity took over, but their management shake-up makes me nervous.

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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1147 of 76078
Subject: Re: Fidelity Manager Changes Date: 1/9/1998 10:42 AM
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Gilvid,

<<Think you missed a key part of the above message. It is my X employer. Left them and went out on my own about 2 yrs ago, but left the 401k with them till things settled down. It's better now since Fidelity took over, but their management shake-up makes me nervous.>>

O.k., I did miss your little "x" in the original post to denote an ex-employer or former employer. That being the case and if you're unhappy with the selection of funds and the shakeup in Fidelity managers, then move the money out of the 401k into an IRA where you can choose the investments in which you want your money. Just take care to arrange for a direct transfer between the plan custodian and IRA custodian when you do to avoid any tax hassles like those I discussed in the response just posted to SSir5 a few messages back from this one.

Regards....Pixy


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