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Asked 11/22/2008
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My company 401k restricts my investment options to a group of mutual funds. Can I move my funds & self direct my own acct? I have a company 401k and do not like my investment options, do I have the right to move my funds to a self directed account or under the managed account of my choice? |
Answer 1/1 - Submitted 11/22/2008
That would be up to your company. Generally they are very resistant to any special cases. They have hired some other company to take care of this so they don't have to get embroiled in all the details and reports of the 401k. Sometimes, especially if the investment company is not doing a good job, or charging a lot, your company will switch to another investment company. There will be a lot of reluctance on the part of management to do this, unless the top people are also dissatisfied.
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