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401 K Funds

BUSINESS
May 8, 1994 | CARLA LAZZARESCHI
Q. What are the essential differences between a condominium and a cooperative? Are there any inherent advantages to one over the other? R.S.B . A. The major difference between a condo and a co-op comes down to ownership. When you buy a condominium, you actually purchase the unit you will inhabit. At the same time, you either get the right to use the common areas of the complex or a fraction, or share, of that property equal to your proportionate interest in the project.
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OPINION
August 18, 1996
With all the talk about future troubles in the Social Security system, planning for retirement may well mean looking out for yourself. Once that involved working toward a traditional pension, one your employer established with a plan of defined benefits to be paid out as long as you lived. Now the employee savings plan, the 401(k), is rapidly replacing the traditional pension. Employees make decisions on what the investments are to be, but employers administer the plans.
BUSINESS
November 23, 1995 | From Associated Press
The government suspects hundreds of companies of improperly diverting employee contributions intended for an increasingly popular form of retirement savings plan. The Labor Department said Wednesday that it is investigating 303 companies for abuses and said 100 companies have already agreed to restore more than $2.6 million in contributions that were never deposited in employee 401(k) retirement accounts.
CALIFORNIA | LOCAL
December 18, 1995
To their shock, several thousand workers who saved for retirement through 401(k) plans discovered that their bosses, despite being legally required to deposit the nest eggs in investment plans, had lost the money through unauthorized uses. This is old-fashioned fraud. Fortunately the problem is not widespread. But to prevent further abuse, the Clinton administration last week proposed new safeguards to protect consumers.
NEWS
February 26, 2002
People who play the market are now at each other's throats. The Bulls & Tigers of Forest Hills, a ladies investment club of 10, meets every month to play the stock market. This month the meeting was held at Jane Peters' house. The club had made $20,000 in the year 2000, and while things went down in 2001, they could still barely hold their heads above water. When the going was good, they called themselves the Sunshine Ladies because they couldn't lose as far as their investments were concerned.
BUSINESS
December 30, 1989 | CARLA LAZZARESCHI
QUESTION: Now that the Medicare catastrophic care surtax has been repealed, can you tell me what I am supposed to do about surtax payments that I was supposed to have made along with my estimated income tax payments throughout the year? I had deferred making my surtax payments during the year until the final estimated payment. But now, do I just ignore the whole thing, or do I make the payment with the final estimate and get a refund? Do I have to file any report?
BUSINESS
May 5, 2004 | From Reuters
The NASD announced a $10-million project Tuesday to provide information and tools to help investors better understand the financial markets as more and more Americans entrust their money to Wall Street. The initiative, spearheaded by the NASD's nonprofit Investor Education Foundation, comes as popular investments such as mutual funds are marred in an improper-trading scandal, which has heightened the importance of disclosure.
BUSINESS
March 18, 2002 | Liz Pulliam Weston
The Enron Corp. debacle has persuaded 72% of 401(k) investors to change their behavior in some way, although only 27% said they are diversifying their portfolios more, according to a survey conducted for brokerage Charles Schwab & Co. In the survey, conducted by telephone Feb. 7 to 11, 33% of the 620 investors polled said they now avoid companies they don't understand, and 31% said they do more research before investing.
BUSINESS
March 12, 2000 | LIZ PULLIAM WESTON
Q.I have read with interest your response to the Social Security benefit questions pertaining to former spouses, particularly that remarriage cancels any benefits someone might receive based on an ex-spouse's work record. I was married for 18 years to a man who contributed the maximum to Social Security every year. After my divorce, I remarried a man who does not qualify for Social Security as he worked for a county government that opted out of the program.
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