[lbo-talk] Free market and 401K plans

123hop at comcast.net 123hop at comcast.net
Fri Sep 30 12:01:49 PDT 2011


So, I have a 401k plan, which theoretically allows me to invest in T bonds. (all through Fidelity)

It's a long circuitous process whereby

1. I first have to put the money in an existing fund (I chose the available stable value type fund)

2. Then I have to open a brokeragelink account

3. Then when a certain threshold is reached, I can move the money into a brokeragelink account

4. Then from the brokeragelink account, I can open a money market account.

5. Then from the money market account I can buy T bills.

Well, being concerned about everybody falling off a cliff again, I called Fidelity today to start the process.

But, it turns out, that my stable value fund considers the brokeragelink account a competitor therefore they have a rule that any money in the stable value fund must be moved to a bond fund or stock fund for 90 days before it is moved into a brokeragelink account.

Free fucking market? I can't dispose of my "private" property as I wish because I have to protect the Galliard Stable Value fund from competition?

Oh boy!

Joanna



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