Posted on: 24th Jan, 2010 09:17 pm
"401(k) plan is not insured by the Pension Benefit Guaranty Corporation."
I read this in another forum and was concerned...
What happens if the company taking care of my 401k or my employeer goes under? will I loose my money? Isn't there some sort federal insurance?
I read this in another forum and was concerned...
What happens if the company taking care of my 401k or my employeer goes under? will I loose my money? Isn't there some sort federal insurance?
No. 401k's aren't federally insured - they're "guaranteed", unless you're in the "money market" portion of the portfolio. You'll receive the least amount of benefit/interest, but you'll be protected. Any other type of investment and you'll be exposed to market risk.
Thank You.
