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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (88391)	1/12/2001 12:06:07 PM
From: Joan Osland Graffius	Read Replies (1) \| Respond to of 132070

MB, >>My guess is that a large % of that is loans from the cos.for employees to buy co. stock. Re my note on the board "I work with attorneys conducting quantitative and qualitative mathematical analysis on 401K’s for divorce cases and my experience is around 80% of the ones I see have loans out against the accounts. It could be the population that get divorces do a poorer job of managing their finances than the population at large." In my experience I have never seen anyone take out a loan in the 401K's to buy company stock. What I do see is companies giving employees stock as a bonus but this stock account can not be sold or moved to other accounts within the 401K. Other than that the loans are taken out for anything. I have seen these loans taken out for big gambling trips, super bowl trips all the way to a down payment on a house. Joan