Search the Community
Showing results for tags 'funds'.
Found 2 results
-
Hi, First let me apologize. I am a newbie to 401K plans and I am just beginning to understand the basics. If this question has been asked already please direct me to the related thread. My scenario: I have a 401K with Wells Fargo through my employer. Employer matches 100% for the first 3% and 50% for the next 2%. 100% of my account balance is allocated to State Street Target Retirement 2050 P. Question: I understand how the contribution part works, but I am confused about the fund (State Street Target Retirement 2050 P SSDLX). Wells Fargo lets me choose which fund to invest in. But I am not sure if I understand the "investing" part. My 401K plan does not give me any dividends so why does it matter which fund I choose? Does my 401K increase or decrease based on the performance of the SSDLX? If yes how and where would I be able to see those earnings or losses in my statement? Is there a minimum balance in my account that is protected no matter how the SSDLX performs? Help & advise is much appreciated. -
We mostly administer HRA plans for terminated employees for employers that use Hour Banks or prevailing wages. The money is fringe dollars and does not belong to the employer as normal. We have a plan that has one employee left on the plan and the employer wants to terminate the plan. The employee still has $259. What should be our process for this? Give the money back to the employee in a check? The employee has a debit card to spend the money but has not used it yet. Our big problem is the employees move so often we do not always have a current address.
