No. of Recommendations: 0
My company's 403(b)(7) retirement plan is with Merrill Lynch. In February 1998, I put my money into a Dogs of the Dow (Dow 10) strategy mutual fund.

I got a call from ML a couple days ago informing me:

"During the course of our internal audit, we discovered that the Dow Fund you're in is not permitted for 403(b)s according to the IRS. It's not what they call a 'regulated investment company'. You'll have to sell that fund and buy another by June 11th or we'll do it for you."

I'm looking for help seeing through my blind fury. I definitely don't think I shouldn't pay any fees for the buy and sell.

Am I justified in seeking compensation for this interrupted strategy which is predicated on holding for a year? I bought the fund because historically it outperforms the S&P 500 by several percentage points.

What advice does anyone have on how best to proceed (besides trying to get my company to move our money out of Merrill Lynch?)

A Desparate New Fool
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