UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: Hillmp Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 79734  
Subject: Urgent 403(b)(7) Question Date: 5/27/1999 7:58 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
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
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next


The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Macro Economics

Looking at Oil and Gas
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.