T. Rowe Retirement Resolution
December 5th, 2006 by Grant in: Brokers, Investing, RetirementA little over 3 weeks since T. Rowe Price “misplaced” over $9,000 worth of my retirement roll over, I’ve finally received word that they’ve deposited the balance into my account and backdated all purchases to the original roll over date.
So we’re square. Irritated, but square.
This is my first experience with target-date retirement funds, but I like the concept. You pick a fund with a target date close to that which you expect to retire. Over time, the funds allocation between stocks and bonds shift to a less aggressive portfolio and lower risk structure.
Since I’ve got a few (~38 to be exact) years till I “retire”, the fund is structured towards high growth. Over time it will shift to a more conservative allocation with a focus on preservation.
I’ve also purchased a significant amount of company stock which, if history bears repeating itself, should appreciate quite nicely.
I’ll share more about my retirement structure at a later date, but as of last night, T. Rowe Price is back in my good graces.
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December 6th, 2006 at 1:25 am
I’m glad you got that problem straightened out. I also had a rollover from T. Rowe Price, but mine went okay. It took about 30 days altogether.
The best rollover that I’ve had was from Walgreens. “They” wrote me a letter within a week after leaving my job, I filled out the form, and within another week the money was transferred. It couldn’t have taken two weeks, tops. That was REAL nice.
I’m now trying to rollover my 401k at New York Life Investment Management, LLC and they told me I had to wait 45 days before I could even initiate a rollover. Sheesh.
December 6th, 2006 at 10:28 pm
Hey Mike, glad to hear you had a good experience. What was the rest of your experience like with T. Rowe Price?
-Grant
December 6th, 2006 at 10:50 pm
I’m about to open a roth ira. Do you recommend T. Rowe Price or Vanguard?
December 9th, 2006 at 12:58 am
I wasn’t employed at that job long enough to actually judge TRP’s service on any other aspects of my 401k.
Hustler.. I always recommend Vanguard because of it’s “mutual” status and lower fees.