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To: carranza2 who wrote (15217)2/19/2002 1:56:59 PM
From: Raymond Duray  Read Replies (1) | Respond to of 74559
 
carranza2,

Re: . All of the 401(k) plans I've ever heard of have money market features.

There is a bit of sophistry to the way this works in the real world. Generally, employer matching funds only accrue to the worker's account if the worker accepts company stock.
So, while there is a money market option, it is generally severely discouraged by the way the system is set up.

Re: ...artificially pushing too much money at too little real opportunity

Please. Since when is a market supposed to guarantee opportunity?


This is nuts! We are talking about people's retirement nest eggs and you cavalierly dismiss them as no more than walking around money for a Las Vegas gambling fling. I reject your views entirely! But in good humor, of course. <gg>

Re: And it's not a blind choice as the plan sponsor has a fiduciary obligation to provide a modicum of financial education

Did you happen to catch Cindy Olson's performance in from of the House Labor Committee last week? She's the point person in Enron's pension administration. Talk about a b*tch. While she completely abdicated all fiduciary responsibility for her thousands of ruined pensioners, she blithely disposed of $6.5 MM shares of Enron, knowing full well that the company was on thin ice. What a remarkable example of hubris, selfishness and malfeasance. And more than likely, criminal neglect.

-Ray