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I have some money (old 401K under transfer to IRA) in a money

market fund. Could there be...
I have some money (old 401K under transfer to IRA) in a money market fund. Could there be forced liquidation if debt limit deal does not get done. Bill Gross said the other day on CNBC that he is buying what Fidelity is selling. I did not understand that. My money market holdings are with XXXXX XXXXXcock and Janus. Thanks.
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Answered in 11 minutes by:
10/11/2013
Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 4,545
Experience: Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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Rakhi Vasavada :

Dear Friend,

Hello and welcome. Thank you for providing an opportunity to assist you.

Rakhi Vasavada :

Kindly remain online for a while as I prepare you reply.

Customer:

hi, thanks for responding.

Rakhi Vasavada :

Normally, forced liquidation does not happen. IF at all it happens, your employer would substitute that with another plan.

Rakhi Vasavada :

Forced liquidation happens only after warnings have been issued by the broker regarding the under-margin situation of an account. With the retirement plans, forced liquidations would certainly never happen.If at all, yours would get substituted with another retirement plan.

Customer:

Thanks. In 2008 some of the mm funds did go below their NAV of $1. I was wondering what Bill was referring to?

Rakhi Vasavada :

I see nothing to worry about at this point.

Customer:

Thanks. Thats it for now I'll rate your answer. Bye

Rakhi Vasavada :

You are most welcome. It was total pleasure interacting with you.

Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 4,545
Experience: Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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